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Article: Korea Exchange Bank Completes Capital Infusion and Transfers its Shares of Pacific Union Bank to Trustee.
- Article from:
- PR Newswire
- Article date:
- November 3, 2003
CopyrightCOPYRIGHT 2003 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PACIFIC UNION BANK has been advised that Korea Exchange Bank, which holds approximately 62% of Pacific Union Bank's outstanding shares, has received the previously announced capital infusion from Lone Star Fund IV (U.S.), L.P. and its affiliates (collectively, "Lone Star"), which results in Lone Star holding a majority of the outstanding voting stock of Korea Exchange Bank.
Pacific Union Bank has been advised that Korea Exchange Bank has placed all of the shares of common stock it holds in Pacific Union Bank into a trust pursuant to a trust agreement entered into between Korea Exchange Bank and the trustee, Mr. L. Dale Crandall. While Korea Exchange Bank ...