By Finance Editor Kim Hyung-dae
JB Financial Group announced on May 30 that the Group has signed a stock purchase contract to acquire Mega Investment, a venture investment company (new technology business finance business).
The target of the acquisition is a 100% stake in Mega Investment, which is owned by Megastudy Co., Ltd. JB Financial Group plans to incorporate Mega Investment as a subsidiary within the next month.
Through this acquisition, JB Financial Group has a specialized venture investment company, and the diversification of the group's revenue sources by expanding the non-banking profit base has progressed further.
In addition, it is expected to create various synergy effects including establishing a value chain of corporate investment along with investment finance business lines within the group such as Jeonbuk Bank, Kwangju Bank, JB Woori Capital, and JB Asset Management.
An official from JB Financial Group said, “Mega Investment, with a long history, is a venture investment company with a high degree of cooperation with policy finance such as equity funds and growth finance. We plan and seek a one-notch higher growth through this development.”
JB Financial Group is a comprehensive financial group with Jeonbuk Bank, Kwangju Bank, JB Woori Capital, and JB Asset Management as subsidiaries, and Phnom Penh Commercial Bank (PPCBank), JB Capital Myanmar, JB Securities Vietnam, and JB Phnom Penh Asset Management as sub-subsidiaries.