Hanwha's chemical arm to buy shares from Samsung, complete acquisition
SEOUL, June 23 (Yonhap) -- South Korean defense and energy conglomerate Hanwha Group said Wednesday it has decided to purchase stakes in its affiliate held by Samsung affiliates for 1 trillion won (US$879 million), completing a mega-sized acquisition deal between the two groups clinched six years ago.
Two Hanwha units -- Hanwha Energy Corp. and Hanwha Solutions Corp. -- agreed to buy 24.1 percent in Hanwha General Chemical Co., from Samsung Corp. and Samsung SDI Co.
The acquisition will conclude the deal signed back in 2015, in which Hanwha purchased four affiliates from Samsung Group.
Under the 2015 deal, Samsung sold shares in then-defense affiliate Samsung Techwin Co. and then-chemical unit Samsung General Chemicals Co. to Hanwha.
Samsung's move to sell affiliates to Hanwha came in line with the family-controlled conglomerate's efforts to streamline its business portfolio and pave the way for the group's heir, Lee Jae-yong.
colin@yna.co.kr
(END)
-
BTS' Jimin to pre-release track on his first solo album -
U.S. B-1B strategic bomber returns to S. Korea as N.K. fires missile -
Nuclear weapons use by North Korea will mean 'end of regime': Pentagon spokesperson -
(LEAD) BTS' J-Hope ranks No. 60 on Billboard Hot 100 with 'on the street' -
(URGENT) N. Korean leader Kim Jong-un calls for completing readiness for nuclear attack against enemies: KCNA
-
Defense ministry sets out to normalize military intelligence-sharing deal with Japan -
(LEAD) S. Korea to set up world's No. 1 semiconductor cluster in Seoul metropolitan area -
BTS' Jimin to pre-release track on his first solo album -
Nuclear weapons use by North Korea will mean 'end of regime': Pentagon spokesperson -
(LEAD) Political divide intensifies in S. Korea over Yoon-Kishida summit
-
U.S. B-1B strategic bomber returns to S. Korea as N.K. fires missile
-
(LEAD) N. Korea holds nuclear counterattack simulation drills; Kim urges perfect readiness: KCNA -
Actor Yoo Ah-in to appear for questioning Friday over alleged drug use -
S. Korea expresses regret over 'distorted' reports on Yoon-Kishida summit -
American admits to train graffiti-related charges but calls himself artist
