Hana's bid for KEB marks a busy week for Korea Inc

Hana Financial agrees to pay $4.1 billion for Lone Star's stake in KEB, while interests are registered for Woori and Hyundai E&C's sale faces controversy.
November 28, 2010

It is a busy time for MA bankers in Korea. The peninsula might seem to be on the verge of devastating conflict, but that hasn’t hindered a scramble for banking and corporate assets.

Hana Financial Group, the country’s fourth-largest financial company, said on Thursday that it will pay W4.7 trillion $4.1 billion for the 51.02% stake held by US buyout fund Lone Star.  

The purchase of KEB is set to make Hana Financial the country’s third-largest financial company in terms of total assets, behind Woori Finance Holdings and KB Financial Group and ahead of Shinhan Financial Group.

The purchase price translates into W14,250 a share, 16% above Wednesday’s...

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