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Why Samsung Subsidiaries Sold Stakes in Affiliate

Why Samsung Subsidiaries Sold Stakes in Affiliate

Samsung’s (SSNLF) two insurance subsidiaries recently reduced their equity stakes in their electronics affiliate. Samsung Life Insurance cut its stake in Samsung Electronics to 7.9% from 8.6% by selling $1.1 billion worth of shares in the company, Reuters reported. Samsung Fire and Marine, the other insurance subsidiary, sold shares worth $200 million in Samsung Electronics to lower its equity stake in the affiliate to less than 1.4% from ~1.5%.