[Special Stock] Musk's Twitter Acquisition... Optimism for Mirae Asset

[Asia Economy Reporter Junho Hwang] As Elon Musk, CEO of electric vehicle manufacturer Tesla, finalized the acquisition of Twitter, the stock price of Mirae Asset Venture Investment has also been on the rise.

As of 2:13 PM on the 28th, Mirae Asset Venture Investment's stock price recorded 4,395 KRW, up 0.57% from the previous session. Mirae Asset Venture Investment has been on an upward trend for five consecutive trading days since the 24th. Mirae Asset Securities also showed an increase of 0.79%, reaching 6,410 KRW. Mirae Asset Securities has risen for two consecutive trading days as of this day.

The rise appears to be influenced by expectations following the news on the 27th (local time) that Musk completed the acquisition of Twitter.

According to local U.S. media on the 27th (local time), Musk completed the Twitter acquisition process that day. He immediately terminated contracts with the existing management and began management activities.

After announcing his plan to acquire Twitter in April, Musk withdrew the acquisition plan in July, three months later, citing concerns over fake accounts on Twitter. In response, Twitter filed a lawsuit to enforce the acquisition, and before the lawsuit began, Musk suddenly reversed his position, stating he would proceed with the acquisition. Musk was required by court order to complete the Twitter acquisition by the 28th.

Musk raised $15 billion in cash by selling Tesla shares out of the total $44 billion needed for the Twitter acquisition, and planned to cover $13 billion of the remaining amount through bank loans.

In this process, Mirae Asset Group participated in the Twitter acquisition by having Mirae Asset Global Investments establish a private equity fund (PEF) called 'Mirae Asset Partners No. 11 Private Equity Fund' with approximately 300 billion KRW, and Mirae Asset Securities ($157.96 million, about 237.1 billion KRW), Mirae Asset Capital, and Mirae Asset Global Investments also contributed funds.

This content was produced with the assistance of AI translation services.