Kookmin and Long Term Credit Banks Will Start Operations as a Merged BankKookmin and the Long Term Credit Banks formally announced their plans to merge on September 11 and to start operations from January 4, 1999 as a merged bank. The two banks plan to hold their board of directors meeting within the month and a shareholders' general meeting by November 10.
The merger ratio will be decided on the basis of net asset value, considering the share price (two days before deciding the ratio) of the two banks. Experts predict that the merger ratio would be decided at the level of Kookmin 1 to Long term Credit 0.54.
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