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$500M of shares in Samsung Life Insurance to be sold

  • Samsung Life Public Welfare Foundation has announced it will sell approximately $500M of shares in Samsung Life Insurance, about 2.5% of total shares outstanding.
  • This marks the third large transaction Samsung (SSNLF, SSNGY) has performed in the last month and a half. Previously, Samsung Everland (a Samsung holding company) and Samsung SDS (an IT solutions affiliate) announced plans for IPOs.
  • Samsung is continuing to do heavy restructuring as its owner the Lee family passes on its various companies to the next generation.
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