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KB Financial to complete $2 bln rights offer by Sept-CEO

Wed Jun 24, 2009 2:57am EDT

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HONG KONG, June 24 (Reuters) - KB Financial Group (105560.KS) (KB.N), the parent company of top South Korean bank Kookmin, on Wednesday said it expects to complete its $2 billion rights offer by late August or early September.

KB Finacial chief executive Hwang Young-key said Lonestar had not made any contact so far regarding the sale of Korea Exchange Bank (KEB) (004940.KS) assets, but KB Financial was open to either bidding or negotiations to acquire the assets.

U.S. private equity firm Lone Star [LS.UL] owns 51 percent of KEB. (Reporting by Leonora Walet; Editing by Chris Lewis)



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