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Article: BUSINESS IN ASIA TODAY - SEPT 4, 2007.

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AsiaPulse News
Article date:
September 4, 2007
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Business in Asia on Sept 4, 2007. A summary prepared by Asia Pulse (http://www.asiapulse.com), the real-time, Asia-based wire with exclusive news, market intelligence and business opportunities:

HSBC AGREES TO BUY 51 PCT OF KOREA EXCHANGE BANK FOR US$6.3 BLN

SEOUL - London-headquartered HSBC Holdings plc said Monday it has agreed to buy a majority stake in South Korea's fifth-largest lender, Korea Exchange Bank (KEB) (KSE:004940), from U.S. private equity fund Lone Star. HSBC Asia Pacific Holdings Ltd., a subsidiary of HSBC Holdings, will pay US$6.3 billion for a 51.02 per cent stake in KEB held by LSF-KEB Holdings SCA, a holding company owned by Lone ...

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