Kookmin says monitoring "with interest" KEB deal
SEOUL (Reuters) - Top South Korean lender Kookmin said on Friday it was monitoring "with interest" developments in the sale of Korea Exchange Bank (004940.KS), after HSBC dropped its $6.3 billion offer to buy KEB from U.S. fund Lone Star.
"We still maintain interest and are closely monitoring the situation," said a Kookmin 060000.KS spokesman. Kookmin had agreed in 2006 to buy a majority of KEB for $7.3 billion, a deal that was later scrapped by Lone Star.
HSBC (HSBA.L) in September 2007 agreed to buy 51 percent of KEB, but the acquisition process was stalled due to legal disputes over Lone Star's investments in South Korea. HSBC on Friday announced the termination of the agreement, citing global financial market conditions.
The Financial Services Commission (FSC), which was in the process of reviewing HSBC's qualifications, said in a statement it regretted HSBC's decision to end the deal.
However HSBC has yet to request the FSC to drop its review process, the regulator added.
(Reporting by Rhee So-eui; editing by Jonathan Hopfner)
