Dallas Based Firm Raided In Korea

Lone Star, a Dallas based firm has been raided by South Korean prosecutors.

(Bloomberg)The raid was to secure evidence for the investigation into whether Lone Star's activities were illegal,'' Chae told reporters in Seoul.

Lone Star, which has invested more than $10 billion in South Korea, last week agreed to sell a $6.6 billion stake in Korea Exchange Bank in the nation's biggest takeover. The firm stands to gain more than $4 billion from its 2 1/2 year investment in Korea Exchange, after an index tracking the nation's bank stocks more than doubled.