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Corporate Finance Team Advises Export-Import Bank of Korea on Sales of Korea Exchange Bank Shares

2012.02.09.

Yulchon"s Corporate Finance Team successfully concluded a transaction in which the Export-Import Bank of Korea ("KEXIM") sold 40,314,387 shares of Korea Exchange Bank ("KEB") to Hana Financial Group Inc. ("Hana Financial"). The shares constitute 6.25% of the total shares of KEB issued and outstanding and their cash value is estimated to be KRW 480 billion (KRW 11,900 per share).
 

Since KEXIM was granted a tag-along right from Lone Star Funds ("Lone Star"), this transaction was concluded simultaneously with the sale of Lone Star"s shares in KEB to Hana Financial. Yulchon served as KEXIM"s legal counsel in relation to the transaction, comprehensively advising KEXIM on legal matters, including, without limitation, the exercise of the tag-along right, construction of contracts executed among between shareholders and review of relevant laws and regulations, including the Banking Act of Korea. Yulchon also participated in the negotiation and the closing of the transaction.