KB News Desk
Mirae Asset Consulting, an affiliate of Mirae Asset Financial Group that oversees the group’s hotel and golf course businesses, is set to boost its planned ownership of cryptocurrency exchange Korbit to 97 percent from 92 percent.
According to a revised regulatory filing on Tuesday, Mirae Asset Consulting is set to purchase an additional 1.59 million Korbit shares for 7.89 billion won ($5.32 million). The transaction follows a decision by a corporate shareholder to sell its remaining stake in Korbit.
With Mirae Asset Consulting already set to acquire a 92.06 percent stake in Korbit, the additional purchase will lift its ownership to 97.15 percent, while raising the total deal value to 141.37 billion won from 133.48 billion won.
The company said the additional purchase is aimed at securing “future growth engines based on digital assets.”
Earlier in July, the Fair Trade Commission approved Mirae Asset Consulting’s acquisition of Korbit, concluding that the deal was unlikely to substantially restrict competition in the relevant market.
The antitrust regulator described the transaction as the first case in which an affiliate of a traditional financial group was acquiring a crypto exchange in Korea.
The share acquisition is scheduled to be completed Friday. The merger will be finalized after Mirae Asset Consulting completes post-closing procedures, including updating the shareholder registry and reorganizing Korbit’s board of directors.
