Samsung Life to increase stake in 2 financial affiliates

August 18, 2016 5:49 AM

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SEOUL Aug 18 South Korea's Samsung Life Insurance Co Ltd will acquire additional stakes in sister companies Samsung Fire & Marine Insurance Co Ltd and Samsung Securities Co Ltd, Yonhap News Agency reported on Thursday.

Yonhap, citing unnamed sources, said Samsung Life would buy Samsung Fire & Marine's treasury shares - equivalent to a 9 percent stake in the insurer - as well as Samsung Fire & Marine's 9 percent stake in Samsung Securities.

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