KB Financial Group takes big stake of Hyundai Securities

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KB Financial Group takes big stake of Hyundai Securities

KB Financial Group decided to acquire 22.56 percent of Hyundai Securities for 1.25 trillion won ($1.1 billion), the financier announced in a regulatory filing on Tuesday.

The price may change after the financial holding group carries out a field investigation and screenings on business documents, as existing insolvencies and risks in business projects or assets may reduce the price.

The final price will be determined by the end of May, the group said.

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