Samsung Life Insurance Co., Ltd. and five related parties completed the acquisition of an additional 4.62% stake in Samsung Fire & Marine Insurance Co., Ltd..
June 20, 2014 at 12:00 am EDT
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Samsung Life Insurance Co., Ltd. (KOSE:A032830) and five related parties agreed to acquire an additional 4.62% stake in Samsung Fire & Marine Insurance Co., Ltd. (KOSE:A000810) for approximately KRW 490 billion in cash on June 13, 2014. The buyers will acquire an additional 1.89 million shares of Samsung Fire & Marine Insurance. Pursuant to the transaction, Samsung Life Insurance will hold 7.1 million shares of Samsung Fire & Marine Insurance. The transaction is expected to be completed by June 16, 2014.
Samsung Life Insurance Co., Ltd. (KOSE:A032830) and five related parties completed the acquisition of an additional 4.62% stake in Samsung Fire & Marine Insurance Co., Ltd. (KOSE:A000810) on June 20, 2014.
Samsung Life Insurance Co Ltd is a Korea-based company principally engaged in the life insurance business. The Company provides death insurance, survival insurance, life-and-death insurance, group insurance, and other insurance. The Company's life insurance includes guarantee insurance such as life insurance, health insurance and critical illness (CI) insurance, as well as savings insurance such as pension insurance and savings insurance. In addition, the Company is engaged in the businesses such as loans, securities, cash deposits and trusts, and real estate, among others.
Samsung Life Insurance Co., Ltd. and five related parties completed the acquisition of an additional 4.62% stake in Samsung Fire & Marine Insurance Co., Ltd..