HSBC agrees deal for Korean bank stake

Banking giant HSBC moved to step up its presence in fast-growing emerging markets today as it agreed to buy a majority stake in Korea’s sixth largest bank.

HSBC agrees deal for Korean bank stake
Mon, 03 Sep, 2007 - 15:43
1

Banking giant HSBC moved to step up its presence in fast-growing emerging markets today as it agreed to buy a majority stake in Korea’s sixth largest bank.

HSBC has offered to buy a 51% stake in Korea Exchange Bank (KEB) from US private equity group Lone Star for $6.3bn (€4.6bn).

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CourtsBusinessHeathrowPlace: KoreaPlace: South KoreaPlace: AsiaPlace: Latin AmericaPlace: Middle EastPerson: Stephen GreenOrganisation: HSBCOrganisation: Korea Exchange BankOrganisation: KEBOrganisation: Lone Star
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