Daewoo Securities sale in flux as sales continue to struggle

Home > Business > Finance

print dictionary print

Daewoo Securities sale in flux as sales continue to struggle

The possibility that Daewoo Securities may be sold off within the year has become uncertain with its sales still struggling.

The Korea Development Bank (KDB) recently expressed its intention to sell its brokerage unit, Daewoo Securities, within the year to the Financial Services Commission (FSC). KDB was initially targeting finishing up the sale of Hyundai Securities by May and then working on selling Daewoo Securities.

However, the primary negotiator - a consortium with Orix Private Equity Korea Corp. and Jabez Partners - has asked KDB to extend the signing of the stock purchase agreement (SPA) for another month on Hyundai Securities, making it unlikely that Daewoo Securities will sell this year.

More in Finance

Kospi hits midday high, closes down on profit-taking

Naver Financial launches advice service for entrepreneurs

[NEWS ANALYSIS] As foreigners rush back, market does an about-face

CU gets into the foreign exchange transaction business

Kospi hits another record high despite Covid spike

Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)

What’s Popular Now