Samsung Life Falls after CJ Group Units Sell Stake at Discount
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.
To contact the reporter on this story: Saeromi Shin in Seoul at email@example.com
To contact the editor responsible for this story: Seyoon Kim at firstname.lastname@example.org