Samsung Life, Samsung Fire to sell $1b Samsung Electronics stake

Samsung Group’s insurance units are selling a combined 1.5 trillion won ($1 billion) stake in Samsung Electronics after the chipmaker’s treasury share cancellation pushed up their ownership ratios. Samsung Life Insurance said Thursday it will sell 6,244,658 Samsung Electronics shares worth about 1.3 trillion won. Samsung Fire & Marine Insurance said separately it will sell 1,091,273 shares worth 227.5 billion won. Combined, the planned sale amounts to about 0.12 percent of Samsung Electronics’ t

By The Korea Herald