Seoul Bank Hints at Purchaser
The president of Seoul Bank hinted Thursday that a foreign buyer may be lined up for the ailing bank."A prospective foreign buyer may start a due diligence analysis as soon as the end of this month," said the bank chief, Kang Chung-won. Deutsche Bank, which will lead-manage the sale, saw its schedule for due diligence slip because of conditions requested by the partners in the deal, Mr. Kang said.
Mr. Kang said he would try to get an agreement signed with the prospective buyer by the end of next month. He also dismissed rumors that the deal had collapsed due to the due diligence delay.
with the Korea JoongAng Daily
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