Advised Mirae Asset Securities and Mirae Asset Global Investments
2016.04.07.
Yulchon advised Mirae Asset Securities in connection with its purchase of 43% of the shares in Daewoo Securities, one of the largest securities companies in South Korea, for KRW2.385 trillion (approx. USD1.93 billion) from Korea Development Bank. Concurrently, Yulchon also advised Mirae Asset Global Investments in connection with its acquisition of 100% of the shares in KDB Asset Management, from Korea Development Bank, for KRW66 billion (approx. USD53.5 million).
Through these transactions, Korea Development Bank was able to successfully recover its investments in Daewoo Securities and KDB Asset Management, while Mirae Asset Securities was able to secure a foundation upon which it became the number one securities company in South Korea by a wide margin. In addition, Mirae Asset Global Investments, which acquired KDB Asset Management, strengthened its competitive edge.
Yulchon advised throughout the M&A process, addressing various regulatory issues arising out of the transaction, carrying out legal due diligence, preparing transaction documents, and making both domestic and overseas filings required for the transaction.
Attorneys Jae Hyun Park, Gun Kim, Byung Hoon Hwang and Ho Jin Lee handled these matters.
