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Lotte Chemical to acquire Samsung’s chemical units for $2.6 billion

by ChemOrbis Editorial Team - content@chemorbis.com
  • 30/10/2015 (14:54)
According to media reports, South Korea’s Lotte Chemical will acquire Samsung Group’s chemical units in exchange for KRW3 trillion ($2.6 billion). Under the agreement, Samsung Group will sell a 90% stake in its chemical business to Lotte Chemical Corp. for KRW2.3 trillion.

Lotte Chemical also said it will also buy a KRW465 billion, or 31.5%, stake in Samsung Fine Chemicals from various Samsung Group arms, including Samsung Electronics Co Ltd. Lotte Chemical will reportedly rename Samsung SDI as S Chemical.

In May, South Korea’s Hanwha Group had finalized the acquisition of Samsung’s petrochemical affiliates Samsung General Chemicals and Samsung Total Petrochemicals and renamed the companies as Hanwha General Chemicals and Hanwha Total Petrochemicals.
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