KB Fin Buys Hyundai Securities Stake for $1.1 Bln
South Korean banking group KB Financial Group Inc is acquiring a controlling stake in brokerage Hyundai Securities Co Ltd for 1.25 trillion won ($1.09 billion) in a high-priced bet on diversification. About two-thirds of KB Financial's 2015 net profit came from its banking unit, Kookmin Bank, and the acquisition of South Korea's sixth-largest securities brokerage by equity capital is aimed at bringing that ratio closer to a stated goal of increasing non-bank contribution to 40 percent.
Golar LNG Acquires 9.9 % of Korea Line
Golar LNG Ltd. has acquired 9.9 % of the shares in the Korean shipping company Korea Line. Korea Line is listed on the Seoul Stock Exchange and has a market capitalisation of around $130 million. Korea Line owns directly 100% of two modern LNG Carriers on long term charter to KOGAS. The company has also smaller ownership in four other large LNG carriers also on long term charter to KOGAS. Golar sees the investment in Korea Line as an interesting opportunity to develop a positive relationship to mutual benefit to one of the leading Asian LNG Shipping providers.
