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March 29, 2024

[EQUITIES] ‘Samsung C&T strengthens grip over Samsung Electronics’

PUBLISHED : May 30, 2017 - 11:57

UPDATED : May 30, 2017 - 11:57

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[THE INVESTOR] Samsung C&T will further consolidate its control over Samsung Electronics, said Hana Financial Investment on May 30, 2017, raising the target price to 170,000 won (US$151.23) from 150,000 won.




The tech giant announced last month that it will retire its entire treasury stocks and this will increase Samsung C&T’s stake to 4.9 percent from the current 4.3 percent, said analyst O Jin-won.

Samsung C&T also is the second largest stakeholder of Samsung Life Insurance whose stake in Samsung Electronics will increase to 8.7 percent from the current 7.6 percent, said the analyst. 

O estimated that the increase in stake of Samsung C&T and Samsung Life Insurance is worth 2 trillion won and 3.6 trillion won, respectively. Factoring in its indirect ownership, Samsung C&T’s net asset will rise by 2.52 trillion won. 

Keeping in line with the new administration’s policy to reinforce separation of banking and commerce business, the insurance company and Samsung Fire and Marine Insurance could sell their stake in the electronics affiliate, and Samsung C&T could acquire additional stake, added the analyst. 

By Hwang You-mee (glamazon@heraldcorp.com)

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