Acquisition of Shares of Hannuri Investment & Securities
2007-11-15On November 14, 2007, the Board of Directors of Kookmin Bank passed a resolution to approve the acquisition of shares of Hannuri Investment & Securities Co., Ltd. The details of the acquisition are as follows:
• Number of shares to be acquired: 9,580,000 shares
(95.8% of the outstanding shares of Hannuri Investment & Securities)
• Purchase price: 266,324 million Won
• Total number of shares of Hannuri Investment & Securities to be owned by Kookmin Bank after the acquisition: 9,580,000 shares
• Method of acquisition: Over-the-counter transaction pursuant to a share purchase agreement
• Purpose of acquisition: Through its acquisition of Hannuri Investment & Securities, Kookmin Bank seeks to secure competitiveness in the capital markets area following the enactment of the Financial Investment Services and Capital Market Act and to generate profit by recognizing synergies between the banking and securities businesses.
- The schedule for completing the acquisition is not yet determined.
- This disclosure is related to the public disclosures made on June 20, 2007 and September 12, 2007.