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 April 2016

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.

 

 

 

Acquisition of Shares of Hyundai Securities Co., Ltd.

On April 12, 2016, the board of directors of KB Financial Group Inc. (“KB Financial Group”) passed a resolution to approve the acquisition of shares of Hyundai Securities Co., Ltd. (“Hyundai Securities”). The key details of the acquisition are as follows:

 

  •   Number of shares to be acquired: 53,380,410 common shares of Hyundai Securities

 

  •   Purchase price (KRW): 1,250,009,060,970 (subject to change pending closing)

 

  •   Contract counterparties: Hyundai Merchant Marine Co., Ltd. and eight others (three trust companies and five individual shareholders)

 

  •   Total number of shares of Hyundai Securities to be owned by KB Financial Group following the acquisition: 53,380,410 common shares (representing 22.56% of the outstanding shares of Hyundai Securities)

 

  •   Purpose of acquisition: For participation in management

 

  •   KB Financial Group plans to enter into a share purchase agreement and the closing is expected to occur on May 31, 2016, on which date the purchase price will be finalized.

 

  •   The completion of the acquisition is subject to regulatory approvals and other closing conditions.

 

  •   The subsidiaries of Hyundai Securities include Hyundai Savings Bank Co., Ltd., Hyundai Asset Management Co., Ltd., Hyundai Securities Americas Inc., Hyundai Securities Asia Ltd., AQG Capital Management Pte., Ltd., Hyundai Able Investments Pte. Ltd., Hyundai-Tongyang Agrifood Private Equity Fund and Keystone-Hyundai Securities No. 1 Private Equity Fund. Upon the acquisition of the shares of Hyundai Securities, KB Financial Group is planning to add such subsidiaries of Hyundai Securities as second-tier subsidiaries of KB Financial Group.

 

  •   Key financial data of Hyundai Securities:

 

Period    Total
assets		      Total
liabilities		      Total
equity		      Share
capital		      Operating
revenue		      Net
income		  
   (in millions of Won)  

FY2015

      23,779,133         20,477,159         3,301,974         1,183,063         4,267,218         279,552   

FY2014

      20,983,246         17,978,759         3,004,487         1,183,063         2,650,508         37,387   

FY2013

      18,945,328         16,027,641         2,917,687         1,183,063         1,840,524         -42,888   

*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: April 12, 2016   By:  

/s/ Jungsoo Huh

  (Signature)
      Name:   Jungsoo Huh
      Title:   Senior Managing Director