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Woori Financial scoops Aju Capital to strengthen business competitiveness

Oct. 23, 2020 7:44 AM ETWoori Financial Group Inc. (WF) StockWFBy: Meghavi Singh, SA News Editor
  • Woori Financial (NYSE:WF) picks 74.04% stake (42.61M shares) in Aju Capital, a financial services company for cash consideration of KRW572.42B to strengthen the business competitiveness of Woori Financial Group.
  • After completion of the acquisition, Aju Capital will become a wholly owned subsidiary of the company and  Aju Savings Bank, a wholly-owned subsidiary of Aju Capital with ~12.160M shares, is expected to become a second-tier subsidiary of Woori Financial Group.
  • The date of transaction is currently undecided.
  • Press Release

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