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CJ CheilJedang Sells off All Its Holdings in Samsung Life

July 12, 2017 08:29lJuly 12, 2017 08:38
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CJ CheilJedang is set to undertake a demand forecast with institutional investors as part of an effort to sell off all its 1.49-percent stake (2,985,850 shares) in Samsung Life. This is worth 368.8 billion won based on July 11 closing price of 123,500 won. The company is pushing forward with a plan to sell the stake with a 2-4 percent premium. Citi Global Market and BNP Paribas are responsible for handling the underwriting.

CJ has sold its Samsung Life shares in stages after taking 8.98 million shares in April 1997. Back in October 2011, it sold off 3 million shares at the price of 256.5 billion won in a block deal. In September 2013, it also sold Samsung Life's 3 million shares at 303.8 billion won.

Industry officials commented that CJ CheilJedang is trying to prepare for funds for future investment with the judgment that Samsung Life's share price has appreciated sufficiently. Since 2011, CJ has earned about 1 trillion won from three rounds of block deals of Samsung Life shares. In addition to Samsung Life shares, CJ owns a 15.0-percent stake in Samsung Lions, a KBO League baseball club.

lovepen@hankyung.com
CJ제일제당이 재무구조 개선 및 미래성장을 위한 투자재원 확보를 위해 보유 중이던 삼성생명보험 주식 298만5850주 전량을 처분하기로 결정했다고 12일 공시했다. 이는 지난해 자기자본의 5.9%에 해당하는 규모다. 오는 14일 시간외 대량매매로 이를 처분할 예정이다.

김은지 한경닷컴 기자 eunin11@hankyung.com