UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

Form 6-K

 

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of March 2015

Commission File Number: 000-53445

 

 

KB Financial Group Inc.

(Translation of registrant’s name into English)

 

 

84, Namdaemoon-ro, Jung-gu, Seoul 100-703, Korea

(Address of principal executive office)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F  x            Form 40-F  ¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):  ¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):  ¨

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes  ¨            No   x

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-N/A.

 

 

 


Revised Terms for the Acquisition of Shares of LIG Insurance Co., Ltd.

On March 25, 2015, KB Financial Group Inc. (“KB Financial Group”) disclosed that the terms of the share purchase agreement relating to the acquisition of shares of LIG Insurance Co., Ltd. (“LIG Insurance”) by KB Financial Group, which were previously disclosed on June 27, 2014, have been amended.

The terms as disclosed herein are subject to change by agreement among the parties to the share purchase agreement. Further changes to the terms are expected to be disclosed in due course.

* Related disclosure: “Acquisition of Shares of LIG Insurance Co., Ltd.” furnished under cover of Form 6-K on June 27, 2014.

Amended terms:

 

     Previously disclosed      Amended  

Purchase price(KRW)

     685,000,000,000         645,000,000,000   

Closing date

     October 1, 2014         June 12, 2015   

The key details of the acquisition are as follows:

 

    Number of shares to be acquired: 11,682,580 common shares

 

    Purchase price (KRW): 645,000,000,000

 

    Total number of shares to be owned by KB Financial Group following the acquisition: 11,682,580 common shares (representing 19.47% of LIG Insurance’s outstanding shares)

 

    KB Financial Group will enter into the related share purchase agreement and the closing is expected to occur on June 12, 2015, on which date the purchase price will be finalized.

 

    On December 24, 2014, KB Financial Group received the necessary regulatory approvals with respect to its proposed acquisition of shares of LIG Insurance from the Financial Services Commission.

 

    LIG Insurance’s subsidiaries include LIG Investment & Securities Co., Ltd., LIG Claims Survey & Adjusting Co., Ltd., Tomorrowplus Co., Ltd., Leading Insurance Services, Inc., PT. LIG Insurance Indonesia Inc., and LIG Insurance (China) Co., Ltd. Upon acquiring the shares of LIG Insurance, KB Financial Group is planning to add such subsidiaries of LIG Insurance as second-tier subsidiaries of KB Financial Group.

 

    Key financial data of LIG Insurance Co., Ltd.:

 

Period

   Total
assets
     Total
liabilities
     Total
equity
     Capital
stock
     Operating
revenue
     Net
income
 
   (in millions of Won)  

FY2013

     20,637,167         19,134,786         1,502,381         30,000         8,365,796         117,202   

FY2012

     18,882,727         17,288,117         1,594,610         30,000         10,666,032         200,404   

FY2011

     15,766,920         14,412,855         1,354,065         30,000         9,500,834         203,777   

 

* Note: On a consolidated basis


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

KB Financial Group Inc.

(Registrant)

Date: March 25, 2015

By:

/s/ Jong-Hee Yang

(Signature)
Name: Jong-Hee Yang
Title: Deputy President