Samsung Life to increase stake in 2 financial affiliates - Yonhap

Samsung Life Insurance

18/08/2016 06:29

SEOUL, Aug 18 (Reuters) - South Korea's Samsung Life 
Insurance Co Ltd  032830.KS  will acquire additional stakes in 
sister companies Samsung Fire & Marine Insurance Co Ltd 
 000810.KS  and Samsung Securities Co Ltd  016360.KS , Yonhap 
News Agency reported on Thursday. 
    Yonhap, citing unnamed sources, said Samsung Life would buy 
Samsung Fire & Marine's treasury shares - equivalent to a 9 
percent stake in the insurer - as well as Samsung Fire & 
Marine's 9 percent stake in Samsung Securities.  
    A Samsung Life spokesman told Reuters the firm's board is 
meeting on Thursday but declined to comment on the Yonhap report 
or what would be discussed at the board meeting.  
 
 (Reporting by Se Young Lee and Joyce Lee; Editing by Jacqueline 
Wong) 
 ((vincentsy.lee@thomsonreuters.com; +822 3704 5646; Reuters 
Messaging: vincentsy.lee.thomsonreuters.com@reuters.net; follow 
me on Twitter @Rover829)) 
 
Keywords: SAMSUNG LIFE M&A/SAMSUNG SECURITIES