Lone Star, the U.S. private equity fund that has dominated the purchase of German distressed debt, is reportedly planning to buy a bank in Germany and transform itself into a mainstream lender. LoneStar is negotiating to buy Mitteleuropäische Handelsbank from NordLB to inherit a banking license, but could buy a much bigger bank, according to the Financial Times. A Lone Star official said it is possible that it will recruit the Institutional Restructuring Unit run by Jan Kvarnström at Dresdner Bank.
Lone Star Plans Bank Acquisition