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[Alpha Biz=(Chicago) Reporter Kim Jisun] Mirae Asset Securities acquires Sharekhan Limited in India.
Mirae Asset Securities, the first Korean securities firm to enter the Indian capital market in 2018, will also take over a local securities firm for the first time in five years.
Mirae Asset Securities announced on December 12 that it has signed a SPA with BNP Paribas to acquire Sharekhan Limited. The purchase amount is $ 370 million (about 486.8 billion won). "Mirae Asset Securities, which has steadily expanded its global business territory with a regional-specific strategy based on the acquisition of local leading companies, has written another success story of K-financial exports with the acquisition this time," said an official at Mirae Asset Securities.
Sharekhan Limited is the top 10 brokerage house in India. Since its establishment in 2000, it has been acquired by French bank group BNP Paribas in 2016. It has 3,500 local employees and about 3 million accounts, with more than 130 branches and more than 4,000 business partners in 400 regions across India. Last year's net profit was $ 21 million (about 27.6 billion won).
It is heard that Chairman Park Hyun-joo's will played a strong role in the acquisition of Sharekhan Limited.
First of all, Mirae Asset Management's Indian subsidiary, which has entered India, has become India's ninth-largest operator with a total of 56 funds and 24.5 trillion won worth of funds. Mirae Asset is the only foreign operator among the top 10 local operators.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
