Mirae’s takeover of KDB units priced at $2.05b

Mirae Asset Financial Group, a local financial service provider, has agreed to take over two units of state-run Korea Development Bank for 2.38 trillion won ($2.05 billion).

Mirae Asset previously signed with the state-run bank to take over a 43 percent stake in KDB Daewoo Securities and all of KDB Daewoo Management for a combined 2.45 trillion won. 

The price was cut by 66.7 billion won, or 2.72 percent, after the value of some of Daewoo Asset‘s overseas assets and local properties was found to have deteriorated further. 

(khnews@heraldcorp.com)