(MENAFN) According to local South Korean media, Samsung Group announced it will sell four chemical and defense units to Hanwha Group in a deal valued at USD1.72 billion, QNA reported.
Samsung said it will sell its defense affiliate Samsung Techwin Co. and chemical unit Samsung General Chemicals Co. to Hanwha, another South Korean family-run firm with main businesses of defense and solar power.
The South Korean firm will sell a 32.4 percent stake in Samsung Techwin for USD754.82 million, as well as a 57.6 percent stake in Samsung General Chemicals for USD952.51 million.
Two other affiliates, Samsung Thales Co. and Samsung Total Petrochemicals Co., were automatically included in the sale-acquisition deal since they are half-owned by the companies being sold to Hanwha.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.