Kookmin Venture Capital Merged into Kookmin Investment(May 27, 2002)
2002-05-27Pursuant to the resolution of respective shareholders’ meeting of the two companies on May 25, 2002, Kookmin Venture Capital will be merged into Kookmin Investment as of June 27, 2002.
Kookmin Bank, as the largest shareholder of the two companies, decided to merge them in order to consolidate duplicate subsidiaries.
Kookmin Investment will remain as the surviving entity. Shareholders of Kookmin Venture Capital, the dissolving entity, will receive 0.1348 share of Kookmin Investment’s new common stock for every share of common stock they own. The merged entity shall be named as KM Investment Co., Ltd.
The two companies were established to invest in and finance venture companies. The paid-in capital and total assets of Kookmin Venture Capital is 97 billion Won and 183 billion Won, respectively. As of May 10, 2002, Kookmin Bank’s total investment in the company is 94 billion Won, which corresponds to 97.15 % of the company’s stake.