NEWS IN BRIEF

South Korean conglomerate Hanwha... is to transfer a 5.35% stake in Korea Life, currently held by explosives producer Hanwha Corp, to its affiliate Hanwha Engineering & Construction. Hanwha Corp will receive the equivalent of $219.6m as a result of the sale. Hanwha Corp will retain a 20.95% stake, while the purchase will increase Hanwha Engineering & Construction’s holding to 28.95% from the current 23.6%.