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Photo = DB financial investment |
[Alpha Biz= Reporter Kim Sangjin] On the 21st, DB Financial Investment announced that it has acquired the remaining 44.67% stake in DB Asset Management, making it a wholly-owned subsidiary. This acquisition adds to the 55.33% stake it already held, bringing DB Asset Management under full ownership.
Previously, in September, DB Financial Investment participated as the alternative acquirer in the purchase of the remaining 44.67% of DB Asset Management’s shares (2.68 million shares) from DB Insurance and the bank shareholders’ stock sale agreement.
As of the end of September, DB Asset Management managed approximately 52 trillion KRW in assets, making it the 8th largest asset management firm in the industry. The acquisition of the remaining stake amounted to 37.5 billion KRW, representing about 3.2% of DB Financial Investment's consolidated equity capital.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
