Korea Development Bank (KDB) is considering options to sell its stake in KDB Daewoo Securities to a Chinese group by the end of 2015.

Also, the bank is planning to sell its stakes in two other units including KDB Asset Management Co. and KDB Capital.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The asset management unit could be sold separately or in a package with Daewoo Securities, while the consumer finance firm, KDB Capital will be sold separately.

Currently, KDB owns 45% stake in KDB Daewoo Securities, while it holds 100% in KDB Asset Management and 99.92% in KDB Capital. The deal value of KDB’s 43% stake in Daewoo is expected to reach about KRW2trillion.

In Korea, KB Financial Group has emerged as a potential bidder for KDB Daewoo in a move to expand its banking-heavy portfolio.

KDB is set to name a lead manager to manage the auction next month, with plans to start the process from November, reported The Korea Times.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The sale process is expected to be completed before the first half of 2016, according to Yonhap News Agency.

KDB told Yonhap News Agency that, "We will push to sell the companies as soon as possible. We will dispose of our entire stakes in the three companies in order to maximize sale value and contribute to the development of the local financial market."

KDB vice president Lee Dai-hyun said: "We won’t exclude foreign investors from bidding for KDB Daewoo Securities."