AK Plaza, Bundang Branch Acquires Revenue Securities... "Establishing Stable Business Structure"

Bundang Branch Sold to Capstone Asset Management in 2015
Capstone Asset Management Acquires Real Estate Income Securities

AK Plaza announced on the 26th that it will acquire beneficiary certificates of a real estate fund that holds AK Plaza Bundang Branch as an investment asset.

Through this acquisition of beneficiary certificate shares, AK Plaza plans to establish a stable business structure for the Bundang Branch. It is expected to bring profitability improvement effects in the mid to long term. The share purchase will utilize funds raised through affiliates and part of the paid-in capital increase proceeds. AK Plaza recently raised 60.1 billion KRW from AK Holdings through a paid-in capital increase.

In 2015, as part of financial structure improvement efforts, AK Plaza decided on a sale and leaseback of the Bundang Branch and sold it to Capstone Asset Management. This acquisition of beneficiary certificates is conducted in the form of additionally setting up shares of a real estate fund created by Capstone Asset Management with AK Plaza Bundang Branch as an investment asset. The plan is to complete the acquisition by January next year, aiming to secure the maximum shareholding ratio.

An AK Plaza official stated, “Through this acquisition of beneficiary certificate shares, we aim not only to secure a stable business structure for the Bundang Branch but also to lay the foundation for future reinvestment through profitability improvement,” adding, “We plan to vigorously promote the activation of operations and strengthening of merchandise composition (MD) at the Bundang Branch, as well as structural improvements for sustainable growth.”

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