Texas-based private equity firm Lone Star has agreed to purchase KfW Bankengruppe’s stake in struggling German lender IKB. KfW, the German government-owned development bank, is selling all its holdings in IKB, which amount to 90.8% of IKB’s total shares. Neither party officially disclosed details on the size of the transaction, but is it believed to be a few hundred million euros.
“KfW was able to achieve an adequate, positive purchase price and to reach an agreement on sharing certain portfolio
- Fund-linked structured products face extinction under FRTB
- Lack of buy-side repo backstop a concern – Citi repo head
- China Minsheng and SocGen team up for quant index product
- People moves: Barclays’ investment bank chief exits, Citi president to retire, Vos promoted at BNY Mellon, and more
- Banks rethink fund-linked trades ahead of FRTB