On April 7, Mirae Asset Securities paid the state-run Korea Development Bank (KDB) 2.08 trillion won, the remainder of the amount it agreed to pay to buy a 43 percent stake in KDB Daewoo Securities.
Having agreed to purchase a 43 percent stake in KDB Daewoo Securities for 2.3 trillion won, Mirae Asset Securities already paid a down payment of 238.5 billion won.
Earlier this year, Mirae Asset Securities had agreed to pay a total of 2.4 trillion won for a 43 percent stake in Daewoo Securities and a 100 percent stake in KDB Daewoo Management in a package deal.
As the financial transaction has been completed, Mirae Asset’s acquisition of Daewoo Securities is expected to accelerate. Mirae Asset Financial Group Chairman Park Hyeon-joo will take office as chairman of Daewoo Securities in a couple of days. Daewoo Securities’ executives reported to Chairman Park on April 4.
Mirae Asset is currently working on a new company logo and corporate identity (CI) design that can make a visual statement about the merger between the two companies. The new logo will be unveiled at the end of this month. The merged brokerage house will be named Mirae Asset Daewoo Securities, which will be officially launched on October 1.
