Mirae Asset Securities Co. is considering joining a bid to take over Hyundai Securities, industry sources said Sunday. (Image : Yonhap)
SEOUL, March 21 (Korea Bizwire) - Mirae Asset Securities Co. is considering joining a bid to take over Hyundai Securities, industry sources said Sunday.
Emboldened by the acquisition of Daewoo Securities from Korea Development Bank, Mirae may join hands with LK Investment Partners, a local private equity fund (PEF).
If realized, it would jolt the competition that has been dominated by Korea Investment Holdings Co. and KB Financial Group Inc. The two lost the recent bid for Daewoo Securities.
“(We) are reviewing whether to make a relevant investment, after receiving a PEF’s offer to form a consortium,” a Mirae official said. “The final decision will be made before March 25.”
In connection with the sales of Hyundai Securities, due diligence was done last week and the bidding is scheduled to open on Friday.
Hyundai’s capital size reaches 3.2 trillion won (US$2.7 billion).
A source privy to the issue said Mirae is expected to invest 500 billion won to take part in the attempt to buy the brokerage.
(Yonhap)
