Feeds
A South Korean court cleared two former officials Monday in a case related to the acquisition of a local bank by Lone Star Funds in what could be a boon to the buyout group's troubled efforts to sell the lender.
British bank HSBC Holdings PLC said Friday it has canceled an agreement to purchase a controlling stake in a South Korean bank from U.S. private equity group Lone Star Funds amid world financial turmoil.
CIT Group Inc. said Tuesday it will sell its home lending business to Lone Star Funds for $1.5 billion in cash, plus $4.4 billion of assumed debt, in a move to exit the troubled mortgage arena and focus on its commercial finance operations.
The head of Lone Star Funds left South Korea on Thursday following extensive grilling by prosecutors over the U.S. buyout group's activities in the country.
The chairman of U.S. buyout group Lone Star Funds said Friday that South Korean prosecutors have banned him from leaving the country, a step he criticized as unneeded as he vowed full cooperation.
Log In | Register
