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S.Korea pension fund's external panel says didn't review Samsung merger plan
July 14, 2015 / 5:38 AM / 2 years ago

S.Korea pension fund's external panel says didn't review Samsung merger plan

SEOUL, July 14 (Reuters) - The external advisory committee of South Korea’s National Pension Service (NPS) said it met on Tuesday without reviewing the merits of a proposed merger of two Samsung Group companies.

On Friday, the NPS reached a still-to-be-disclosed decision on whether to vote its Samsung C&T Corp shares in favour of the proposed takeover from Cheil Industries Inc , without consulting the external committee. In some cases the NPS has called for the panel to deliver an opinion to help in shareholder voting decisions it deemed difficult.

The NPS hasn’t said how it will vote at a July 17 shareholder meeting called to make a decision on the merger plan, though domestic media reports have said the pension service will support the deal. (Reporting by Joyce Lee; Editing by Tony Munroe and Kenneth Maxwell)

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