Samsung Elec aims to sell its stake in Samsung Medison - ChosunBiz

Reuters News
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Posted: Feb 23, 2016 1:19 AM

SEOUL (Reuters) - Tech giant Samsung Electronics Co Ltd aims to sell its majority stake in unlisted medical equipment maker Samsung Medison Co Ltd, South Korea's ChosunBiz reported on Tuesday citing unidentified sources.

ChosunBiz said Samsung Electronics will formally start the sales process for its 68.5 percent stake in Samsung Medison in March and has already begun searching for potential buyers. The report said Samsung Medison's weak earnings is driving the decision to sell the company.

The report did not say how much the stake might be sold for.

(Reporting by Se Young Lee; Editing by Edwina Gibbs)