Lone Star extends tender offer for Accredited Home

(Reuters) - NEW YORK, July 30 - Private equity firm Lone Star, which agreed to acquire Accredited Home Lenders Holding Co. in June, said on Monday it was extending its tender offer by 10 business days for all outstanding shares of the struggling subprime mortgage lender's common stock.



The date has been extended till Aug. 14 because Accredited Home had not obtained regulatory approvals required to close the tender offer by the previous deadline of July 27, Lone Star said.


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South Korea pension fund in talks to buy KEB-paper

(Reuters) - Lone Star owns 51 percent of the Korean lender after selling
a 13.6 percent stake for $1.28 billion in a block trade on
Friday.




"The National Pension Service is considering buying Korea
Exchange Bank as a strategic investor, not just as a financial
investor, and it seeking to form a consortium," an unnamed source
familiar with the KEB sale process was quoted as saying.


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South Korea Stocks Drop, Snapping Record of 15 Weekly Advances; Banks Fall

(Bloomberg) -- South Korean stocks fell, rounding
off their first losing week since March. Korea Exchange Bank slid
after controlling shareholder Lone Star Funds sold a 13.6 percent
stake, heightening uncertainty about the sale of the lender.

Kookmin Bank, which had planned to buy Korea Exchange before
Lone Star shelved the deal last year, also slid.


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Lone Star to sell S.Korea Kukdong Eng for $712 mln

(Reuters) - The deal is the second divestment of South Korean assets held
by Lone Star on Friday, following the $1.28 billion sale of a
13.6 percent stake in Korea Exchange Bank in an
overnight block trade.





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Singapore's DBS ends talks to buy South Korea's KEB

(Reuters) - DBS hinted at legal issues to explain why it walked away from KEB, one of the few remaining targets for foreign investors seeking growth in South Korea's banking sector.




U.S. private equity firm Lone Star is facing a legal battle over its 2003 purchase of KEB, which has delayed the sale of the bank. Lone Star has a 64.62 percent stake in KEB, which is valued by the market at $10 billion.


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