Samsung Card will divest a 20.64 percent stake in unlisted subsidiary Samsung Everland, valued at nearly $1 billion, The Wall Street Journal reports. The South Korean firm presently holds a 25.6 percent stake in the unit. Samsung Card, which is currently seeking lead managers to handle the deal, may consider options, such as a block deal and an initial public offering. A South Korean law requires the firm to cut down its share to less than 5 percent by the end of April.

Click here for the story from The Wall Street Journal.

Click here for additional coverage from Reuters.