KTB Investment & Securities Co., Ltd. agreed to acquire 90.1% stake in Eugene SB Holdings Co.,Ltd. for approximately KRW 350 billion.
April 13, 2021
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KTB Investment & Securities Co., Ltd. (KOSE:A030210) agreed to acquire 30% stake in Eugene SB Holdings Co.,Ltd. for KRW 73 billion on April 14, 2021. KTB Investment & Securities Co., Ltd. will acquire 12.93 million shares of Eugene SB Holdings. For the year 2020, Eugene SB Holdings reported Total Assets of 204 billion, Total Debt of KRW 18 million, Total Capital of KRW 204 billion and Net Income of KRW 11 billion. As per the amended terms, KTB Investment & Securities Co., Ltd. agreed to acquire 90.1% stake in Eugene SB Holdings Co.,Ltd. for approximately KRW 350 billion on July 6, 2021. KTB Investment & Securities Co., Ltd. will acquire 38.83 million shares in Eugene SB Holdings Co.,Ltd. As of September 29, 2021, KTB Investment revised the consideration to KRW 299.85 billion. Post completion, KTB Investment & Securities becomes the largest shareholder of Eugene Savings Bank. Eugene Corporation will sell 1.73 million shares of Eugene SB Holdings. As of November 25, 2021, As per the amended terms, KTB Investment & Securities Co., Ltd. agreed to acquire 60.19% stake in Eugene SB Holdings Co.,Ltd. for approximately KRW 200 billion on July 6, 2021. KTB Investment & Securities completed the acquisition of 29.9% stake out of total 60.19% stake. The transaction is expected to close on November 25, 2021.
Daol Investment & Securities Co Ltd, formerly KTB Investment & Securities Co Ltd, is a Korea-based company mainly engaged in investment banking (IB), corporate and bond brokerage. The Company operates its business through five segments. The Financial Investment segment is mainly engaged in investment trading and brokerage securities. The Collective Investment segment mainly engages in asset management. The Venture Investment segment is mainly engaged in investment associations. The Savings Banking segment mainly engages in deposit and loan business. The Other segment primarily provides other financial services.