A-Plus Group Officers and Agents agreed to acquire 23.18% stake in Aplus Asset Advisor Co., Ltd from A Plus Life Co., Ltd for KRW 15 billion.
July 17, 2016
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A-Plus Group Officers and Agents agreed to acquire 23.18% stake in Aplus Asset Advisor Co., Ltd from A Plus Life Co., Ltd for KRW 15 billion on July 8, 2016. As part of transaction, A Plus Life agreed to sell approximately 4.63 million shares for KRW 3,250 per share. A Plus Life Co., Ltd will receive the consideration in cash at closing. A Plus Life Co., Ltd will sell 4.64 million shares of Aplus Asset Advisor Co., Ltd. After the transaction, A Plus Life Co., Ltd will hold 0.02 million shares of Aplus Asset Advisor Co., Ltd. Aplus Asset Advisor Co., Ltd reported total assets of KRW 52.64 billion, total common equity of KRW 24.25 billion, sales of KRW 185.7 billion and net profit of KRW 3.47 billion in 2015. The Board of Directors passed a resolution for the transaction on July 8, 2016. The transaction is expected to be completed on August 1, 2016. As of August 5, 2016, A-Plus Group Officers and Agents agreed to acquire 16.02% stake in Aplus Asset Advisor Co., Ltd from A Plus Life Co., Ltd for KRW 6.9 billion.
A Plus Asset Advisor Co Ltd is a Korea-based company mainly engaged in the insurance agency and brokerage business. In partnership with domestic life insurance and non-life insurance enterprises, the Company provides insurance financial services to customers by comparing and analyzing insurance product coverage, return on investment, and product prices from the customer's point of view. In addition, the Company brokers and sells products of affiliated companies such as mutual aid services, cell banking, long-term care services, and real estate brokerage services. The Company also engages in the loan business.