Korea Investment & Securities Buys Indonesian Brokerage for $36.6 Million
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Korea Investment & Securities Buys Indonesian Brokerage for $36.6 Million
Brokerage house Korea Investment & Securities Co. Ltd. has acquired a 75 percent stake in a mid-sized Indonesian securities firm for USD 36.6 million (40 billion won) in early December, according to a company statement.
Korea Investment Holdings announced that its subsidiary, Korea Investment & Securities, has bought a major stake in Danpac Sekuritas as part of its efforts to strengthen overseas business. It confirmed that all relevant approvals including those from Otoritas Jasa Keuangan of Indonesia have been obtained.
The purchase signals renewed interest by Korean investors in Indonesian markets. Danpac Sekuritas is a securities brokerage company ... (read more)
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