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 registrants 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 Insurances 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 Insurances 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 |