German lender IKB Deutsche Industriebank AG, which has been badly hit by the U.S. subprime mortgage crisis, will be sold to U.S.-based private equity firm Lone Star Funds, the German company's biggest shareholder said Thursday. Germany's state-owned KfW development bank did not give the precise terms of its deal to sell 90.8 percent of IKB to Dallas-based Lone Star, but officials said at a news conference that the purchase price was in the low three-digit million euros range. That would be below the €800 million (US$1.2 billion) that the German government had initially targeted. KfW chief executive Wolfgang Kroh said the deal would likely be concluded by October, pending regulatory approval. While he did not disclose the exact final price, he said that this was "not a normal sale of shares but rather a complex project made up...
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