South Korea Must Pay Lone Star Funds More Than $216 Million

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SEOUL—The South Korean government must pay $216.5 million to a U.S. private-equity firm, Lone Star Funds, relating to a decadelong legal dispute over the sale of a South Korean bank.

The Wednesday judgment ends a long-running legal saga that pitted a foreign investor against the South Korean government. The case centers on Dallas-based Lone Star’s claim that its attempted sale of an ownership stake in the now-defunct Korea Exchange Bank— once South Korea’s fifth-largest bank—had been delayed by the Seoul government. Lone Star had previously argued that efforts to sell the KEB stake had been impeded by a series of South Korean legal and regulatory challenges.

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