Buy Lotte chemical Samsung Group business for $2.6 billion


Moscow. October 30. Samsung Group is selling the chemical assets of a competing Japanese-Korean conglomerate Lotte Group for $2.6 billion as part of a strategy of business consolidation, writes The Wall Street Journal.

As part of the transaction petrochemical company Lotte Chemical, a division of the Lotte group, will receive 90% of Samsung SDI, 31.5% of Samsung Fine Chemicals and 49% Samsung BP Chemicals.

It is expected that the deal will allow Lotte Chemical to increase its annual revenue by more than 30% – up to 20 trillion Korean won ($17,51 billion).

For the past year, Samsung Group sold non-core divisions, in preparation for the expected transfer of power from the Chairman of the Board of Directors of the company Whether Gonchi his son Lee Jaanu. If Gonchi suffered a heart attack in may and have still not been able to get back to work.