KB Kookmin completed the acquisition of PRASAC Microfinance Institution from LOLC Holdings.

KB Kookmin, a provider of various personal and corporate banking products and services worldwide, completed the acquisition of PRASAC, a Cambodian microfinance institution, from LOLC Holdings, a Sri Lankan conglomerate listed on the Colombo Stock Exchange. Financial terms were not disclosed. “The acquisition, however, is expected to be conducted in accordance with the basic principles set forth in the options contract, such as the method for establishing the purchase price,” Sim Senacheert, KB Kookmin President and CEO.