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Samsung Life Falls after CJ Group Units Sell Stake at Discount

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Oct. 18 (Bloomberg) -- Samsung Life Insurance Co. retreated as much as 6.6 percent in Seoul trading after CJ Group units sold 4 million shares in the life insurer at a discount. Samsung Life fell to 84,500 won as of 9:20 a.m. on the Korea Exchange. The benchmark Kospi Index slipped 1.8 percent. CJ Group in June said it will use its Samsung Life stake and other non-core assets to fund a takeover of Korea Express Co.

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To contact the reporter on this story: Saeromi Shin in Seoul at sshin15@bloomberg.net

To contact the editor responsible for this story: Seyoon Kim at skim7@bloomberg.net

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