July 11, 2017 / 9:23 AM / 14 days ago

CJ Cheiljedang to sell Samsung Life stake for up to $310 million

1 Min Read

SEOUL (Reuters) - South Korea's CJ Cheiljedang Corporation plans to sell its stake in Samsung Life Insurance Co Ltd in a deal worth up to $310 million, according to a term sheet of the deal seen by Reuters.

CJ has offered 2,985,850 shares at a price range of 118,560 won to 121,030 won per share, a discount of 2 percent to 4 percent to their Tuesday closing price, according to the term sheet.

Reporting by Elzio Barreto Jr; Writing by Hyunjoo Jin; Editing by Edwina Gibbs

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