Samsung Life to buy Samsung Electronics stake in Samsung Card for $1.3 billion

January 28, 2016 7:43 AM

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Samsung Life to buy Samsung Electronics stake in Samsung Card for $1.3 billion

SEOUL South Korea's Samsung Life Insurance Co Ltd said on Thursday it will buy Samsung Electronics Co Ltd's 37.5 percent stake in sister firm Samsung Card Co Ltd for 1.54 trillion won ($1.3 billion).

Samsung Life, an insurance arm of Samsung Group, the country's biggest conglomerate, already owns 34.4 percent of the credit card business.

Also read: Samsung Heavy Industries Replaces CEO After Warning of Losses

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