SEOUL, Sept 8 | Thu Sep 8, 2011 3:38am EDT
SEOUL, Sept 8 (Reuters) - A South Korean court will make a final ruling on stock price manipulation charges against Lone Star on Oct. 6, a judge said on Thursday, a key decision that may expedite the U.S. buyout fund's exit from the country.
Lone Star had agreed to sell its controlling stake in Korea Exchange Bank (KEB) to Hana Financial Group for $4.1 billion but regulators have suspended approval of the deal due to legal uncertainty.
In March, the Supreme Court overturned a lower court's decision to acquit Lone Star's former head of Seoul operations and Lone Star's Belgium-based unit, which holds a majority stake in KEB, of rigging stock prices in a relation to KEB's credit card unit, and ordered a new trial.
Seoul High Court Judge Cho Kyung-ran said the ruling would be made on Oct. 6, after witnesses testified and prosecutors and defense lawyers wrapped up their cases in Lone Star's trial on Thursday. (Reporting by Ju-min Park; Editing by Jonathan Hopfner)
Niciun comentariu:
Trimiteți un comentariu