SEOUL — The South Korean government must pay $216.5 million to a U.S. private equity firm, Lone Star Funds, in connection with a decadelong legal dispute over sell a Korean bank.
Wednesday’s ruling ends a lengthy legal saga that has been fought by a foreign investor against the South Korean government. The case centers on claims by Dallas-based Lone Star that an attempt to sell an ownership stake by the now-defunct Korea Exchange Bank – once South Korea’s fifth-largest bank – has been rejected. delayed by the Seoul government. Lone Star has previously argued that the attempt to sell KEB shares has been thwarted by a series of legal and regulatory challenges by South Korea.
