From CNET: Samsung Group, South Korea's largest conglomerate, has been rapidly merging its various affiliates this year to ease control and streamline its key businesses -- electronics, finance and construction.
According to executives of component suppliers to Samsung's defense and chemical affiliates, Samsung's top brass had been mulling how to get rid of these affiliates as they didn't have much synergy with its key businesses and was underperforming.
A senior Samsung executive, who declined to be named, said: "We must throwaway unnecessary businesses and focus on our key growth areas, such as electronics."
Samsung Techwin, Samsung General Chemicals, Samsung Total and Samsung Thales will be handed over to South Korean conglomerate Hanwha for 1.9 trillion won ($1.7 billion). The related and required approval processes will commence in January and will be finished within the first half of next year, the Group said via a statement.
View: Article @ Source Site
