The Business Times

Hanwha Group to acquire Samsung chemical, defence unitsL: source

Published Wed, Nov 26, 2014 · 01:30 AM
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[SEOUL] South Korean conglomerate Hanwha Group will acquire defence firm Samsung Techwin Co Ltd and three other Samsung Group affiliates, a person with direct knowledge of the matter said on Wednesday.

The person, who declined to be named due to the sensitivity of the matter, said Hanwha will also acquire unlisted Samsung Total Petrochemicals, Samsung General Chemicals and Samsung Thales, a joint venture with French defence electronics firm Thales.

A Hanwha spokesman said the group will decide on whether to acquire certain Samsung Group firms without providing details, while a Samsung Group spokesman declined to comment.

South Korea's Yonhap News Agency reported earlier on Wednesday that Hanwha Group firms will likely acquire stakes in the the four Samsung firms for more than 2 trillion won (S$2.34 billion) without citing direct sources.

REUTERS

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