Samsung Insurance Units Cut Samsung Electronics Stake via Block Deal-To The Moon - Tiger Brokers Online Investing Community - To The Moon

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Samsung Insurance Units Cut Samsung Electronics Stake via Block Deal

Dow Jones03-20 15:59

By Kwanwoo Jun

Samsung Group's insurance affiliates said Friday that they completed the sale of about $960 million worth of shares in Samsung Electronics through a block deal.

The divestment by Samsung Life Insurance and Samsung Fire & Marine Insurance was aimed at avoiding a potential breach of local rules that cap financial firms' ownership of nonfinancial affiliates within the same conglomerate at 10%.

The combined block deal totaled 1.431 trillion won, equivalent to $961.1 million, in value.

Samsung Life sold 6.2 million shares worth 1.218 trillion won, cutting its stake to 8.41%, while Samsung Fire & Marine sold 1.1 million shares worth 212.78 billion won, lowering its stake to 1.47%, according to regulatory filings.

The sales were intended to keep the insurers' combined stake below the 10% threshold.

The move follows Samsung Electronics' decision to cancel more treasury shares to boost shareholder returns after buybacks totaling 8.4 trillion won in 2024 and 2025.

Treasury share cancellations increase existing shareholders' ownership.

Samsung Electronics shares fell 0.5% to close at 199,400 won.

Write to Kwanwoo Jun at kwanwoo.jun@wsj.com

(END) Dow Jones Newswires

March 20, 2026 03:59 ET (07:59 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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