Mirae Asset Securities Completes Acquisition of Indian Brokerage Firm Sharekhan
Mirae Asset Securities has completed its acquisition of Sharekhan, a top 10 local brokerage firm in India, for 586.6 billion won, the company announced on Nov. 27. This strategic move marks a significant milestone for Mirae Asset Securities, which first entered the Indian market in 2018, and aims to capitalize on the burgeoning opportunities in the Indian financial sector.
Established in 2000, Sharekhan has grown to become one of India's largest retail brokerage firms, boasting approximately 3,500 employees and a comprehensive network of branches across the country. The acquisition process began with the signing of a stock purchase agreement (SPA) worth $480 million in December last year. Following a year of coordination and obtaining necessary approvals from local financial authorities, the deal has now been finalized.
Read Full Article