DB Securities announced on the 28th that there has been no decision made regarding the media reports that it is reviewing the acquisition of Hanyang Securities.
DB Securities said, "We are considering various measures to strengthen our medium- to long-term competitiveness; however, there has been no determined fact related to mergers and acquisitions (M&A) so far." They added, "We will re-announcement at a specific point when the details are determined in the future or within one month."
Earlier, a media outlet reported that the DB Group, led by Vice Chairman Ko Won-jong of DB Securities, has begun reviewing the acquisition of Hanyang Securities. Hanyang Securities signed a stock trading contract with KCGI, which is well-known as the 'Kangsungbu Fund,' but the possibility of the deal falling through arose as the National Tax Service initiated a special tax investigation into KCGI.
Previously, DB Insurance became the second-largest shareholder by acquiring a 9.73% stake (5,923,990 shares) in DAOL Investment & Securities. This stake is part of the equity held by Presto Investment Advisory, which had a management dispute with Chairman Lee Byung-cheol of DAOL Investment & Securities.