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Korea Development Bank, Mirae Asset complete Daewoo Securities package deal

KoreaDevelopment Bank on April 7 completed the sale of a package of a43% stake in KDB DaewooSecurities Co. Ltd. and the whole of to aconsortium of Mirae AssetSecurities Co. Ltd. and Mirae Asset Global Investments Co. Ltd.

South Korea's Financial Supervisory Service on March 30approved theeligibility of the Mirae Asset consortium as the largest shareholder of the twoacquired companies.

The two sides previously agreed on a final price of 2.385 trillion won for thepackage.

As of April 6, US$1was equivalent to 1,159.70 South Korean won.