SEOUL, Sept. 2 (Korea Bizwire) – APRO Service Group, better known as its service brand “Rush & Cash,” and Japan’s J Trust will compete over Aju Capital. According to financial investment sources on August 29, the two bidders have participated in acquiring the finance company. Aju Corporation, the largest shareholder of Aju Capital, has put a 74.16-percent stake in the company out on sale.
APRO Service Group owns OK Savings Bank and APRO Capital, as well as Rush & Cash, the No. 1 operator in the moneylending business. The group expects significant synergies from acquiring Aju Capital.
Meanwhile, J Trust is currently running Chinae Savings Bank (formerly Mirae Savings Bank) and KJI Finance. It has recently acquired SC Savings Bank and SC Capital, accelerating its forays in the Korean market. Once it succeeds in taking over Aju Capital, its total assets would be valued more than 8 trillion won.
Aju Capital is a No. 2 player in the finance industry, with the consolidated sales revenue of 792.1 billion won and operating profit of 28.0 billion won last year. Its assets are currently estimated at 5 trillion won.
By M.H. Lee (email@example.com)