[DISCLOSURE] CJ CheilJedang (097950) announced on July 12 that it has decided to sell its entire 2,985,850 shares of Samsung Life Insurance (032830) “to improve financial structure and to secure fund for investment in future growth.” 

This amounts to 35.77 billion won (US$312.17 million) which is equivalent to 5.9 percent of its equity capital. 

The due date for transaction is July 14. 

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