Deals
Hana Finishes $3.9 Billion Korea Exchange Bank Takeover
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Hana Financial Group Inc. completed its 4.4 trillion won ($3.9 billion) purchase of Korea Exchange Bank from Lone Star Funds and Export Import Bank of Korea, allowing Hana to narrow a gap with rivals and the U.S. fund to exit the investment after eight years.
Hana completed the payment today and officially closed the deal, which was pending more than a year, Hana President Kim Jong Yeol told investors and analysts in a telephone conference. Seoul-based Hana agreed to buy Lone Star’s 51 percent stake for