Samsung Life says to buy 290 bln won worth Samsung Securities shares

Samsung Securities Co

11/11/2016 06:52

SEOUL, Nov 11 (Reuters) - South Korea's Samsung Life 
Insurance Co Ltd  032830.KS  said on Friday it would buy 290 
billion won ($249.13 million) worth of shares in Samsung 
Securities Co Ltd  016360.KS , boosting its stake and injecting 
capital in the brokerage affiliate.  
    Samsung Life said in a statement it was buying 8.36 million 
Samsung Securities treasury shares at the brokerage's closing 
price of 34,700 won apiece on Friday. The life insurer will 
control 30.1 percent of Samsung Securities after completing the 
transaction, up from 19.2 percent currently.  
    The deal is subject to regulatory appproval, Samsung Life 
said.  
 
($1 = 1,164.0700 won) 
 
 (Reporting by Se Young Lee; Editing by Biju Dwarakanath) 
 ((vincentsy.lee@thomsonreuters.com; +822 3704 5646; Reuters 
Messaging: vincentsy.lee.thomsonreuters.com@reuters.net; follow 
me on Twitter @Rover829)) 
 
Keywords: SAMSUNG SEC M&A/SAMSUNG LIFE