Wednesday, April 7, 2010 as of 11:14 AM ET
Samsung Group (; , informally Samsung) is a South Korean multinational conglomerate company headquartered in Samsung Town, Seoul.
Read More at Wikipedia ›Samsung Card (029780.
SE) will sell its 3.64% stake in unlisted affiliate and amusement-park operator Samsung Everland for KRW165.85 billion ($140.5 million) to Samsung Everland on June 11, the credit-card firm said Thursday.Samsung Everland is considered to be the de facto holding company of the nation's largest conglomerate, Samsung Group.The move comes after the national financial regulator ordered Samsung Card to cut its 8.64% stake in Samsung Everland to less than 5% by Aug. 16. Samsung Card had been unable to meet an earlier late-April deadline to meet the restrictions owing to poor market conditions created by the euro-zone crisis.Korean law has prohibited since 1997 financial companies from owning 5% or more of non-financial firms.The planned sale of 91,124 shares in Samsung Everland will cut Samsung Card's ownership to 5%, Samsung Card said in response to Korea Exchange's request to explain speculation that Samsung Card will sell the ownership deemed excessive.Samsung Card acqu...Samsung Life Insurance Co. (032830.SE) said Thursday that it has decided not to participate in the preliminary bidding for ING Groep's (ING) life insurance business ...
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