KDB In Talks Over Lehman Brothers Stake

September 2008 | In The News

Speculation continued to surround the fate of US financial services group Lehman Brothers, after Korea Development Bank (KDB) confirmed it in talks to acquire a stake in the firm, alongside a consortium of domestic private banks. Local press has reported that KDB had proposed to pay at least US$4.4bn for a 25% stake in the bank, but that it may face competition from HSBC, a US hedge fund and an unnamed Chinese Bank. This came on the heels of news that Ospraie Management, the investment firm in which Lehman held a 20% stake, had to close its biggest hedge fund

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