FINANCIAL TIMES Lone Star's Paul Yoo Sentenced to 3 Years | In Korea on Thursday, the buyout shop Lone Star Funds was found guilty of stock manipulation, and the former chief of the group's South Korean unit was given a three-year prison sentence, Bloomberg News reports.
The energy secretary, Ed Davey, has warned energy firms found guilty of any price manipulation they could face swingeing fines and a possible requirement to pay customers back through lower energy prices.
WALL STREET JOURNAL Stake Sale to Clear Way for South Korean Bank Merger | The private equity firm Lone Star Funds, which was found guilty of stock price manipulation, is expected to be required to sell its majority stake in the Korea Exchange Bank, making the bank available for a takeover by the Hana Financial Group, The Wall Street Journal reports.
BLOOMBERG NEWS Lone Star to Sell Korean Bank Stake | Lone Star Fundsds, the private equity firm that was found guilty of stock price manipulation, was told by South Korean authorities to reduce its stake in the Korea Exchange Bank to 10 percent or lower, so that the lender can be acquired by the Hana Financial Group, Reuters reports.
