Samsung removes cross-shareholding at holdco level

Korea’s largest conglomerate creates a linear shareholding structure under Samsung C&T after two affiliates sold their last batch of shares in the company in a $833 million block trade.

Samsung removes cross-shareholding at holdco level

Samsung Group, the mighty South Korean conglomerate best known for its smartphones, has responded to calls from the government to improve corporate governance by eliminating its final two reciprocal cross-shareholdings at the holding company level via a secondary share sale.

Thursday’s transaction saw Samsung Electro-Mechanics and Samsung Fire Marine Insurance sell their entire stakes in Samsung CT, the de facto holding company of the Samsung Group, for a combined W930 billion...

FinanceAsia has updated its subscription model. Registered readers now have the opportunity to read five articles from our award-winning website for free. Please subscribe for unlimited access.

Print Edition

FinanceAsia Print Edition