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The Korea Herald
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THE INVESTOR
March 29, 2024

Samsung

Bain Capital to acquire Samsung’s W1tr stake in Hanwha Chemical

  • PUBLISHED :April 26, 2018 - 11:23
  • UPDATED :April 26, 2018 - 11:23
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[THE INVESTOR] US private equity giant Bain Capital has been named as the preferred bidder for Samsung Group’s 1.1 trillion won (US$1 billion) stake in Hanwha General Chemical, a former Samsung chemicals business unit, according to industry sources on April 26.

Samsung sold off its chemicals and defense businesses to Hanwha Group back in 2015. Considering Hanwha’s financial burdens of the 2 trillion won mega deal, Samsung companies have owned some stakes in the chemicals unit on condition that the firm makes its stock debut by 2021. 




Bain will be acquiring the entire 24.1 percent stake owned by Samsung C&T (20.05 percent) and Samsung SDI (4.05 percent). Along with Bain, three others, Korea Investment Partners, IBK Securities and an unidentified global strategic investors, participated in the bidding war.

Samsung C&T, the de facto holding unit of Samsung Group, is expected to secure more than 800 billion won in cash. Sources said the firm could inject the money into Samsung’s growth business like biotech. Samsung SDI, the battery-making unit, is estimated to secure some 200 billion won cash.

By Lee Ji-yoon (jylee@heraldcorp.com)

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