Mirae Asset preferred to buy Daewoo Securities stake for around $2 bln

Mirae Asset Securities

24/12/2015 05:00

SEOUL, Dec 24 (Reuters) - State-run Korea Development Bank 
(KDB) said it has chosen brokerage Mirae Asset Securities Co Ltd 
 037620.KS  and its affiliate as the preferred bidder for a 
controlling stake in its unit, Daewoo Securities  006800.KS . 
    KDB did not specify the bidding price for Daewoo Securities, 
South Korea's second-largest brokerage, and Mirae executives 
declined to comment. 
    Yonhap news agency, however, cited unnamed industry and 
regulatory sources as saying Mirae had placed a binding bid of 
around 2.4 trillion won ($2.05 billion) for a 43 percent stake 
in Daewoo Securities and 100 percent of a smaller asset 
management company. 
    Shares in Mirae Asset rose about 3.9 percent in midday, 
while Daewoo Securities shares rose 2 percent compared to a 0.1 
percent rise in the wider market.  .KS11   
    Korea Development Bank, Daewoo's controlling shareholder, 
said in a statement that the sale is part of the state-run 
bank's drive since 2013 to offload stakes in other companies. 
 urn:newsml:reuters.com:*:nL4N10Z29Q  
($1 = 1,170.2000 won) 
 
 (Reporting by Joyce Lee; Editing by Miral Fahmy) 
 ((jungyoon.lee@thomsonreuters.com; +82 2 3704 5609; Reuters 
Messaging: jungyoon.lee.thomsonreuters.com@reuters.net)) 
 
Keywords: DAEWOO SEC SALE/MIRAE ASSET SEC