Hanwha Acquires 1 Trillion KRW Stake in Hanwha General Chemical from Samsung... Ending 6-Year Big Deal
[Asia Economy Reporter Kim Heung-soon] Hanwha Energy and Hanwha Solutions, major shareholders of Hanwha General Chemical, held a board meeting on the 23rd and resolved to acquire a total of 24.1% of shares held by Samsung, including 20.05% held by Samsung C&T and 4.05% held by Samsung SDI, for a total of 1 trillion won.
Previously, in 2015, Hanwha conducted a 'big deal' acquiring four defense and chemical affiliates from Samsung for about 2 trillion won. With Hanwha now acquiring all Samsung-held shares remaining in Samsung General Chemical (now Hanwha General Chemical), the big deal between the two groups has been completed after six years.
Hot Picks Today
Dramatic Agreement Reached on Eve of Samsung Electronics General Strike... Minister Kim Young-hoon: "Showcased Korea's Strength in Dialogue" (Update)
- "It Has Now Crossed Borders": No Vaccine or Treatment as Bundibugyo Ebola Variant Spreads [Reading Science]
- "From a 70 Million Won Loss to a 350 Million Won Profit with Samsung and SK hynix"... 'Stock Jackpot' Grandfather Gains Attention
- "Stocks Are Not Taxed, but Annual Crypto Gains Over 2.5 Million Won to Be Taxed Next Year... Investors Push Back"
- "Who Is Visiting Japan These Days?" The Once-Crowded Tourist Spots Empty Out... What's Happening?
Hanwha General Chemical plans to focus more on new business investments following this acquisition. Hanwha stated, "With this share acquisition, Hanwha-Samsung Big Deal Season 1 has concluded," adding, "Season 2 will be a process of actively promoting future strategic businesses and transforming from a petrochemical company into a sustainable future-oriented enterprise."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
