Samsung's Lee siblings in reorganisation coup
Latest move helps them tighten their control over South Korea's Samsung Group
Seoul
LEE Jae Yong and his two sisters look like they just got quite a bargain in the latest move to tighten their control of South Korea's Samsung Group.
In a deal announced on Tuesday, Cheil Industries Inc, the group's de facto holding company, will buy out construction affiliate Samsung C&T Corp for about US$9.4 billion in stock. The genius of the deal: Aside from generating about US$25 billion in revenue, C&T holds more than US$12 billion in other companies' shares, including crown jewel Samsung Electronics Co.
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