NEW YORK ( TheStreet) -- Hana Financial Group Inc is buying a 51% stake in Korea Exchange Bank from Lone Star Funds, according to a report by The Wall Street Journal. The report says Lone Star's stake rings in at about $3.8 billion. The move would block Australia & New Zealand Banking Group ( ANZ) from buying the stake. ANZ has been conducting due diligence on Korea Exchange Bank with hopes of expanding its presence in East Asia through a potential buyout. If Hana does acquire the stake in Korea Exchange bank it will not likely make a bid for the South Korean government's 57% stake in Woori Finance Holdings ( WF). --Written by Maria Woehr in New York. To contact the writer of this article, click here: Maria Woehr. To follow the writer on Twitter, go to http://twitter.com/newsgirlmw. To submit a news tip, send an email to: firstname.lastname@example.org.