ID :
20100
Thu, 09/18/2008 - 22:57
Auther :
Shortlink :
http://m.oananews.org//node/20100
The shortlink copeid
KDB offered 5 tln won for stake in Lehman Brothers
SEOUL, Sept. 18 (Yonhap) -- State-run Korea Development Bank (KDB) has offered to buy a stake in Lehman Brothers Holdings Inc. for 5 trillion won (US$4.34 billion), its chief executive officer said Thursday.
In a report to the National Assembly, Min Euoo-sung said the South Korean policy
lender's proposed offer was equal to one-third of the price Lehman is seeking,
and around half of its market value.
KDB has been seeking to buy 25 percent in what was once America's fourth-largest
investment bank, but withdrew from negotiations citing price differences.
On Monday, Lehman Brothers filed for bankruptcy protection, burdened by a US$60
billion debt from soured real estate holdings.
In a report to the National Assembly, Min Euoo-sung said the South Korean policy
lender's proposed offer was equal to one-third of the price Lehman is seeking,
and around half of its market value.
KDB has been seeking to buy 25 percent in what was once America's fourth-largest
investment bank, but withdrew from negotiations citing price differences.
On Monday, Lehman Brothers filed for bankruptcy protection, burdened by a US$60
billion debt from soured real estate holdings.
