Samsung affiliates acquire 4% stake in Upbit operator Dunamu for $408 million
By
Jamie Crawley
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Summary
Samsung affiliates (Samsung Securities, Samsung Card, and Samsung SDS) are acquiring a combined 4% stake in Dunamu, the operator of South Korea's largest cryptocurrency exchange Upbit, for a total of $408 million (612.8 billion won). Samsung Securities will take a 2% stake worth over $200 million, while Samsung Card and Samsung SDS each take 1% stakes. The deals are scheduled to complete on June 19 and involve purchasing shares from affiliates of technology conglomerate Kakao.
Key quotes
· 3 pulledInvestment bank Samsung Securities is set to take a 2% stake in Dunamu in a 306 billion-won cash transaction, from affiliates of technology conglomerate Kakao, according to a Thursday filing.
It is joined by credit card provider Samsung Card and IT arm Samsung SDS, each taking a 1% stake, according to the Korea Herald.
The deals, scheduled to complete on June 19, mean Ka
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