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.
September 21, 2018

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 $833 million through an after-market block sale of shares.

Samsung Electro-Mechanics sold 5 million shares in Samsung CT for $547 million while Samsung Fire Marine Insurance sold 2.6 million shares for...

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