Samsung Life Acquires Stake in UK Real Estate Asset Manager 'Savills IM'

Acquired 25% Stake for 101.3 Billion KRW
Agreement to Entrust Asset Management Worth 1 Trillion KRW Over 4 Years

[Asia Economy Reporter Oh Hyung-gil] Samsung Life Insurance has diversified its overseas asset portfolio by acquiring a stake in a UK real estate asset management company.

On the morning of the 27th, Samsung Life Insurance's board of directors approved the acquisition of a 25% stake in 'Savills IM,' a real estate asset management company under the UK comprehensive real estate group 'Savills,' for ?63.75 million, approximately 101.3 billion KRW.

Savills is an asset management company managing assets worth 32 trillion KRW, investing in various real estate sectors mainly in Europe, with bases in 13 countries across Europe and Asia.

Since last year, Samsung Life Insurance has conducted due diligence and negotiations on Savills IM, and in April, the negotiation team visited the London headquarters in person to finalize the investment terms.

Samsung Life Insurance acquired a 25% stake previously wholly owned by Savills, becoming the second-largest shareholder of Savills IM, and plans to strengthen cooperation between the two companies through board participation and the establishment of a business cooperation committee.

Additionally, Samsung Life Insurance has agreed to entrust asset management of $1 billion (approximately 1.1 trillion KRW) over four years following the completion of the stake acquisition transaction. This is expected to enable diversification of the overseas asset portfolio and improve mid- to long-term returns.

Samsung Life Insurance also holds a call option to acquire an additional 10% stake by 2025, depending on the progress of the entrusted asset management agreement.

A Samsung Life Insurance official stated, "Savills IM has investment experience in various real estate sectors and excellent management, making it a suitable strategic partner for expanding our global asset management business strategy. We plan to actively pursue the expansion of our global asset management business to strengthen and diversify our revenue base."

This content was produced with the assistance of AI translation services.