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[Nasdaq] S. Korea prosecutors raid KNOC, BofA offices over 2009 Canada refiner deal

May 12, 2015

 

(Yonhap)

Prosecutors raided the offices of KNOC, as the state-run oil company is known, and Bank of America Merrill Lynch’s offices in Seoul on Tuesday. (Yonhap)

[Nasdaq] South Korean prosecutors are investigating Korea National Oil Corp. and its adviser Bank of AmericaMerrill Lynch in relation to the state-run oil company’s takeover of Canada’sHarvest Energy Trust in 2009, according to people familiar with the situation.

Prosecutors raided the offices of KNOC, as the state-run oil company is known, and Bank of America Merrill Lynch’s offices in Seoul on Tuesday as part of a probe into a string of energy deals struck by the previous South Korean administration, these people said. [READ MORE]