Samsung Electronics and other affiliates of Samsung Group have been divesting from non-core operations as South Korea’s top conglomerate seeks to narrow its focus and secure more resources for its main businesses. Seoul: Tech giant Samsung Electronics Co Ltd said on Sunday it sold shares in four companies including ASML Holding NV and Seagate Technology Plc to free up money for additional investments for its core businesses. Samsung said in a statement it sold about half of its shares in ASML while selling its entire 4.2% stake in Seagate. A term sheet seen by Reuters on 8 September showed Samsung was selling about half of its stake in ASML for €606 million ($675.99 million). Samsung Electronics and other affiliates of Samsung Group have been divesting from non-core operations as South Korea’s top conglomerate seeks to narrow its focus and secure more resources for its main businesses.

Source: Mint September 18, 2016 05:48 UTC