Monday, May 5, 2003
Lee Kang-won, president and CEO of Korea Exchange Bank (KEB), said Monday that the bank would restart measures to sell off the struggling Hynix Semiconductor.
KEB holds a majority 13.8 percent stake in the chip firm and its main creditor.
Lee said the bank would look into Chinese firms for the sell-off of Hynix, as the creditors' earlier steps to sell the chipmaker to the United States and European firms have all been aborted. The bank is to embark on a road show in China for the sale immediately after the deadly SARS virus is contained.
Commenting on the bank's capital increase plan, Lee said the bank is moving ahead in talks with two or three foreign investors, and it might be possible for the bank to attract W400 to W500 billion from one of the investors in June or July. Market sources said that the bank is concentrating its investment negotiations on Lone Star Fund, a global investment fund based in Texas.
By: DocMemory
Copyright © 2023 CST, Inc. All Rights Reserved
|
