Lone Star Funds, confirmed its acquisition of 90.8% of KfW Bankengruppe’s shares at IKB Deutsche Industriebank, and announced its plans to remove the risk areas of troubled German lender such as refocus it’s servicing to small and mid-sized companies and provide the bank with additional equity.
“Small and medium enterprises are a solid foundation for the German economy, and it is of utmost importance for this sector to have access to reliable sources of financing,” says Karsten von Kller, chairman of Lone Star Germany. “We will be focusing IKB on its strong “Mittelstand franchise”.
Lone Star was advised by HSBC.