Lone Star Snaps Up German Subprime Casualty

August 2008 | M&A News Alert

The fall-out continues, as Texas-based private equity group Lone Star Funds takes a 90.8% stake in distressed German lender IKB Deutsche Industriebank (IKB), the country's first fatality of the sub-prime meltdown. The announcement was made by Germany's state-owned development bank KfW, which in conjunction with numerous commercial banks (including Deutsche Bank and Commerzbank) has spent billions bailing out IKB.

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