Key Developments: KB Financial Group Inc (105560.KS)
37,450.00KRW
22 May 2013
₩450.00 (+1.22%)
₩37,350.00
₩37,250.00
₩37,500.00
₩37,100.00
837,553
1,146,552
₩41,850.00
₩32,500.00
Latest Key Developments (Source: Significant Developments)
Kb Financial Group Inc Announces Changes in Shareholding Structure
Kb Financial Group Inc announced that ING Bank N.V. and one related party have sold their entire 18,045,337 shares of the Company, equivalent to a 5.06% stake. Full Article
ING Groep NV To Sell KB Financial Group Inc Stake For Up To $675 Million-Reuters
Reuters reported that ING Groep NV plans to sell its remaining stake of around 5% in South Korea's KB Financial Group Inc, a deal valued at up to $675 million. ING is looking to divest several businesses in Asia, including its South Korean insurance unit, to help repay a 10 billion euro state bailout received during the global financial crisis. Thomson Reuters publication said ING is offering 19.4 million shares between 37,480-37,750 won each. That represents a discount of up to 1.4%. Full Article
Kb Financial Group Inc Declares Annual Cash Dividend for FY 2012
Kb Financial Group Inc announced that it has declared an annual cash dividend of KRW 600 per share of common stock to shareholders of record on December 31, 2012 for the fiscal year 2012. The dividend rate of market price is 1.6% and the total amount of the cash dividend is KRW 231,811,015,800. The Company's annual cash dividend for the fiscal year 2011 was KRW 720 per share. Full Article
Kb Financial Group Inc Drops Bid To Buy ING Groep NV's South Korean Unit-Reuters
Reuters reported that Kb Financial Group Inc decided against buying ING Groep NV's South Korean insurance unit after mulling over the deal for months, dealing a setback to the Dutch group's Asia divestment plans. The board of KB rejected at a meeting on Tuesday what would have been a roughly $2.1 billion acquisition. Full Article
ING Groep NV Agrees To Cut Korea Operations Sale Price To Kb Financial Group Inc To $2.1 Billion-DJ
Dow Jones reported that Kb Financial Group Inc, which has been in exclusive talks to buy Korean life insurance operations from ING Groep NV (ING) since August, has cut its offer price for the Dutch firm's assets to around USD2.1 billion. KB Financial had agreed to pay KRW2.45 trillion for the firm's Korean assets previously, but has now agreed with ING to cut it to around KRW2.3 trillion. ING has sold big chunks of its Asian business already, with the Japanese and Korean assets now remaining. KB Financial began exclusive talks to buy those assets from August onwards when it was made the preferred bidder. It was the only bidder for the assets. But the sale has been complicated by domestic political uncertainties ahead of the December 19 presidential election and opposition by some of KB's non-executive directors worried about the cloudy outlook of Korea's insurance industry. Full Article
South Korea's Anti-Trust Agency Opens Probe On Kb Financial Group Inc And Others Over CD Rate-Fixing Suspicions-Reuters
Reuters reported that South Korea's anti-trust agency is investigating at least nine local brokerages on suspicion of collusion in setting three-month certificate of deposit rates, which are used for a wide range of financial transactions. At some securities firms, Fair Trade Commission officials visited in the morning then left. KB Investment & Securities, KTB Investment & Securities Co.,Ltd., LIG Investment & Securities, Hanwha Securities Co., Ltd., EUGENE INVESTMENT & SECURITIES CO LTD, Daishin Securities Co., Ltd., HMC INVESTMENT SECURITIES CO LTD and Bookook Securities Co., Ltd. confirmed they were under investigation by the Fair Trade Commission. No foreign firms were believed to be under investigation in Korea. Hana Daetoo Securities Co, Dongbu Securities Co., Ltd., Woori Investment & Securities Co Ltd and Mirae Asset Securities Co., Ltd. said they were not under investigation, while officials at Meritz Securities Co could not confirm. Woori, Hana, and KB, which has confirmed it is under investigation, are either affiliates of or belong to the same parent groups of three banks: Woori Finance Holdings Co., Ltd., Hana Financial Group Inc., and Kb Financial Group Inc. Full Article
ING Groep NV Short Lists Kb Financial Group Inc And Other Bidders For Asia Life Insurance Assets-DJ
Dow Jones reported that ING Groep NV and its advisers have narrowed down the field of suitors for its Asian life insurance operations to a short-list that includes Canada's Manulife Financial Corp and Hong Kong's AIA Group Limited. Other bidders on the short-list include KOREA LIFE INSURANCE, Kb Financial Group Inc, private-equity firm J.C. Flowers & Co. and Hong Kong tycoon Richard Li. Mark Wilson, a former Chief Executive of AIA who is heading a consortium bidding for all the ING Asian insurance assets, is also on the list. The sales process allows for bidders to bid for only part of the business or for all of it. KB Financial is bidding only for ING's Korean operations, some of the people said, while Japan's Dai-ichi Life Insurance Co. has bid for ING's Southeast Asian assets. MetLife Inc. of the U.S. bid in the first round of the auction, but it was unclear whether it was on the short-list of bidders. Full Article
KOREA LIFE INSURANCE, Kb Financial Group Inc Shortlisted In Bid For ING Groep NV's Asia Life Insurance Operations; Leaving MetLife, Inc. And Others-DJ
Dow Jones reported that KOREA LIFE INSURANCE and Kb Financial Group Inc have been shortlisted in the bidding for ING Groep NV's life insurance operations in Asia. The price tag for the operations could potentially rise above $7 billion, according to analysts. Korea Life and KB Financial were among several initial bidders, including MetLife, Inc., Manulife Financial Corp and Hong Kong's AIA Group Limited. Both Korean companies have made the shortlist of bidders, KB Financial is bidding only for ING's Korean operations. The sales process allows for bidders to bid for only part of the business, or all of it. KB Financial has been looking to expand its non-banking business, especially its life insurance business, as it relies heavily on its flagship banking unit Kookmin Bank for revenue. The sales process allows for bidders to bid for only part of the business, or all of it. KB Financial has been looking to expand its non-banking business, especially its life insurance business, as it relies heavily on its flagship banking unit Kookmin Bank for revenue. Full Article
Potential Bidders Including Kb Financial Group Inc Line Up ING Groep NV's Asia Arms-Reuters
Reuters reported that insurers including MetLife, Inc. and Manulife Financial Corp are hiring banks to advise them on a potential purchase of the Asian insurance and asset management arms of ING Groep NV. MetLife has hired Credit Suisse. Canada's Manulife, whose potential interest was reported by Reuters in January, has hired Citigroup as an adviser. Manulife would not comment on market speculation and MetLife said it would not comment on any potential M&A transactions. ING must spin off its insurance and investment manaement operations by the end of 2013 in return for European Commission approval for EUR10 billion ($13.26 billion) of Dutch state aid received in 2008. A recent EU court ruling may give ING leeway on smaller sales, but it is still expected to move ahead with its divestments. The auction is drawing interest from U.S., Canadian, European and Asian companies. These include Prudential Financial, Inc., Sun Life Financial Inc., AIA Group Limited, South Korea's Kb Financial Group Inc, KOREA LIFE INSURANCE and Samsung Life Insurance Co., and some Japanese insurers. Financial terms were not disclosed. Full Article
Kb Financial Group Inc Declares Annual Cash Dividend for FY 2011
KB Financial Group Inc announced that it has declared an annual cash dividend of KRW 720 per share of common stock to shareholders of record on December 31, 2011 for the fiscal year 2011. The dividend rate of market price is 1.9% and the total amount of the cash dividend is KRW 278,173,218,960. The Company's annual cash dividend for the fiscal year 2010 was KRW 120 per share. Full Article
ING sells stake in Korea's KB Life for $148 mln
AMSTERDAM, April 19 - Dutch bank and insurance group ING Groep NV said on Friday it has agreed to sell its 49 percent stake in Korean insurance company KB Life to joint venture partner KB Financial Group for 166.5 billion won ($148.2 million).
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