I can't help but feel sorry for my old employer, Lone Star Funds/Hudson Advisors. They have been trying to sell their interest in KEB for some time now. If you read the article, know that this is at least the 2nd major buyer they have found for the bank, but regulators in Korea either never want foreign investment in their country again or are incredibly stupid. They have been grasping at straws to find a way to keep the investment fund from making a huge profit after Lone Star took a substantial risk by buying the bank in the first place.
If you go back in time to when Lone Star bought the bank, you would see nothing but positive press in Korea of this heroic fund from America coming to save the day and their insolvent national bank. Now through excellent management, Lone Star is going to make a very hansom profit for their investors and the Koreans simply don't like that.
Monday, May 26, 2008
Subscribe to:
Posts (Atom)
