Kiwoom Securities Co., Ltd. agreed to acquire TS Savings Bank from TS Corporation for KRW 88.5 billion.
July 19, 2016
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Kiwoom Securities Co., Ltd. (KOSE:A039490) agreed to acquire TS Savings Bank from TS Corporation (KOSE:A001790) for KRW 88.5 billion on July 19, 2016. Kiwoom Securities Co., Ltd. will acquire 2 million shares in TS Savings Bank. TS Savings Bank reported total assets of KRW 426.09 billion and total capital of KRW 62.55 billion as of December 31, 2015.
The deal requires approval of the Financial Services Commission.
Kiwoom Securities Co Ltd is a Korea-based company engaged in the provision of financial services. The Company operates its business through four segments. The Wholesale General segment is engaged in corporate sales that provide stock and derivatives trading services and market information, and bond sales that provide bond brokerage. The Investment Bank (IB) Business Headquarters segment engages in businesses including issuing and arranging corporate bonds, real estate project financing (PF), alternative investment, in addition to initial public offering (IPO). The Investment Management segment is engaged in mezzanine investment, private equity, futures and options trading, arbitrage trading, and brokers over the counter (OTC) derivatives such as equity linked security (ELS) and equity linked warrant (ELW). The Retail Headquarters segment is engaged in businesses such as domestic securities brokerage services, online fund services, and overseas stock services.
KIWOOM SECURITIES CO., LTD. 
