KDB ups stake in financial leasing company

Korea Development Bank’s KDB Capital Corporation raised its stake in a Vietnamese financial leasing company to 60 percent from 37.7 percent to expand its business in the country.

KDB bought the additional stake in Vietnam International Leasing Company from Industrial & Commercial Bank of Vietnam, the country’s fourth biggest bank, Kim Byung Sun, first deputy general director of the financial leasing company, said in an e-mailed statement.

He didn’t say how much KDB paid for the stake.

Cho Soo Cheol, a spokesman at KDB Capital in Seoul, said by phone that the South Korean company raised its stake to 60 percent last year.

Natixis SA, the French investment bank, and Aozora Bank Ltd., the Japanese bank controlled by Cerberus Capital Management LP, each holds 20 percent in the leasing company, Kim said.

Thanhnien

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