A Seoul administrative court again ruled Friday that the state tax office should refund Lone Star Funds 177.2 billion won (US$159 million) in taxes collected from the U.S. buyout fund in its sale of a stake in Korea Exchange Bank (KEB).
In June 2007, Lone Star, which bought KEB in 2003, sold part of its stake in the lender for 1.19 trillion won via a block sale. In 2012, Lone Star sold the rest of its stake to Hana Financial Group for 3.91 trillion won.