KB Securities to Acquire an Indonesian Brokerage
Source: David
Fazzaco learned that KB Securities, an investment bank and brokerage house based in Seoul, is investing 50 billion won ($42.8 million) to acquire an undisclosed Indonesian brokerage.
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According to KB Securities, the approval of the deal is now pending with Otoritas Jasa Keuangan, the financial authority in Indonesia.
Though the South Korean company did not officially disclose the name of the Indonesian company, local news outlet Yonhap reported that the company in question is Jakarta-based Valbury Sekuritas Indonesia, which is an affiliate of Valbury Group.
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