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Samsung Elec to acquire entire stake in Cheil Worldwide from Samsung C&T
Collected
2016.10.27
Distributed
2016.10.28
Source
Go Direct
Samsung Electronics Co. announced Thursday that it would buy the entire 14,539,350 stocks of Cheil Worldwide Inc. owned by Samsung C&T Corp. for 267.5 billion won ($235 million) to strengthen strategic cooperation with the advertising unit of Samsung Group. Samsung Electronics stake in Cheil Worldwide will increase from 12.60 percent to 25.24 percent after the acquisition.

Cheil Worldwide shares rose 5.17 percent to 17,300 won as of 11:09 a.m. in Seoul trading Thursday.

By Lee Dong-in

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]

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