Thursday, July 5, 2007

UPDATE 1-South Korea upholds $110 mln tax on Lone Star deal

(Reuters) - The Finance Ministry said in a statement on Thursday that
National Tax Tribunal members had unanimously rejected Lone
Star's [LS.UL] appeal of a 101.7 billion won tax
imposed after it had sold the 45-storey Star Tower in Seoul.




The investment fund bought the commercial building in 2001
and sold it to GIC Real Estate Pte. Ltd., an arm of the
Government of Singapore Investment Corp. Ptd. in 2004 for an
undisclosed sum.


Read more at Reuters.com Mergers News

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