Azul Airlines Wins Court Approval for $2 Billion Debt Restructuring and New Capital Raise 
Indonesia–U.S. Tariff Talks Near Completion as Both Sides Push for Year-End Deal 
Coca-Cola’s Proposed Sale of Costa Coffee Faces Uncertainty Amid Price Dispute 
Air Force One Delivery Delayed to 2028 as Boeing Faces Rising Costs 
South Korea Extends Bond Market Stabilization Measures Amid Rising Financial Risks 
iRobot Files for Chapter 11 Bankruptcy Amid Rising Competition and Tariff Pressures 
Oil Prices Rebound in Asia as Venezuela Sanctions Risks Offset Ukraine Peace Hopes 
SoftBank Eyes Switch Inc as It Pushes Deeper Into AI Data Center Expansion 
Global Markets Slide as Tech Stocks Sink, Yields Rise, and AI Concerns Deepen 
Asian Currencies Hold Steady as Indian Rupee Slides to Record Low on Fed Outlook 
CMOC to Acquire Equinox Gold’s Brazilian Mines in $1 Billion Deal to Expand Precious Metals Portfolio 
S&P 500 Slides as AI Chip Stocks Tumble, Cooling Tech Rally 
Russia Stocks End Flat as Energy and Retail Shares Show Mixed Performance 
United Airlines Tokyo-Bound Flight Returns to Dulles After Engine Failure 
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
Intel’s Testing of China-Linked Chipmaking Tools Raises U.S. National Security Concerns 
Mizuho Raises Broadcom Price Target to $450 on Surging AI Chip Demand 
Kakao Pay Corp. is buying a total of 51% controlling stake in Siebert Financial Corp., an American investment advice company. The South Korean financial technology arm of the Kakao Group said on Thursday, April 27, that this deal is part of its efforts to reach the goal of business expansion overseas.
Yonhap News Agency reported that Kakao Pay stated in its recent regulatory filing that its deal with Siebert is worth $17 million, and they have already signed the contracts for it. The companies expect to complete the deal on May 4. This particular agreement will give Kakao a 19.9% stake in Siebert.
Kakao Pay will increase its stake in the US-based brokerage firm by buying an additional 31.1% next year. This will bring the South Korean fintech firm's stake to 51%.
Then again, it was noted that this purchase is still subject to shareholder and regulatory approvals. The price of this second acquisition deal was not disclosed by Kakao.
"We are excited to announce this transaction with Kakao Pay which will enhance our capabilities and accelerate our growth plans," Gloria E. Gebbia, Siebert's controlling shareholder and board member, said in a press release. "The partnership with Kakao Pay will provide us with significant financial resources to opportunistically invest in our key business lines while leveraging the expertise and technological capabilities of one of the leading financial services innovators in the Korean market to expand our reach and enhance our technology offerings."
Shin Won Keun, Kakao Pay's chief executive officer, also said, "Kakao Pay has attained a great opportunity to expand its financial business abroad by making a strategic investment in Siebert, a company with over 55 years of tradition and experience."
Finally, the Kakao Pay chief added they would continue to improve their benefit offerings and user experience as a financial platform while also seeking new chances for innovation in the global market.
