Samsung Life says to buy $211 mln in Samsung Securities shares

Samsung Securities Co

18/08/2016 09:42

SEOUL, Aug 18 (Reuters) - South Korea's Samsung Life 
Insurance Co Ltd  032830.KS  said on Thursday it would buy an 
additional 234 billion won ($211 million) worth of shares in 
Samsung Securities Co Ltd  016360.KS  from affiliate Samsung 
Fire & Marine Insurance Co Ltd  000810.KS . 
    Samsung Life said in a statement it was boosting its stake 
in Samsung Securities to improve returns on assets under 
management and seek new investment opportunities in conjunction 
with its asset management companies.  
    The life insurer's stake in Samsung Securities would rise to 
19.2 percent from 11.1 percent as a result of the transaction. 
Samsung Fire & Marine would not own any shares in Samsung 
Securities once the sale to Samsung Life is finalised.  
    Samsung Life also owns 15 percent of Samsung Fire & Marine.  
    ($1 = 1,107.1700 won) 
 
 (Reporting by Se Young Lee; Editing by Jacqueline Wong) 
 ((vincentsy.lee@thomsonreuters.com; +822 3704 5646; Reuters 
Messaging: vincentsy.lee.thomsonreuters.com@reuters.net; follow 
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Keywords: SAMSUNG LIFE SAMSUNG F&M INS/SAMSUNG SECURITIES (U