Agreement on Disposition of Jooeun Leasing(Aug. 30, 2002)
2002-08-30On August 30, 2002, upon the approval of Financial Supervisory Commission, Kookmin Bank made a final agreement with Sun Capital in connection with the disposition of Jooeun Leasing.
Pursuant to the approval and ratification of its board of directors, Kookmin Bank disposes of its stake of 12,988,771 shares, which represents 65.43% of the total issued and outstanding shares of Jooeun Leasing. In addition, it disposes of the loans of approximately 172 billion, which was exposed by Kookmin Bank to Jooeun Leasing as of March 31, 2002. The purchaser is Sun Capital primarily engaging in leasing business. The proceeds of the sale are amounted to 145 billion Won.
Upon the disposition, the remaining stake of Kookmin Bank in the company is equal to 20%.