An agreement has been signed which will see the controlling shareholders of Samsung Techwin (including Samsung Electronics, Samsung C&T and other Samsung Group affiliates) sell their holding stakes in Samsung Techwin to the Hanwha Group.
“Hanwha Group’s investment in Samsung Techwin will enable us to continue researching, designing and developing innovative market-leading solutions that will create new business opportunities and ensure our future growth,” said Jong Wan Lim, managing director of the Security Solutions division at Samsung Techwin Europe Ltd.
“Customers can be assured that it’s ‘business as usual’ and that there will be absolutely no disruption to the supply of products or to the normal high levels of pre- and post-sales support that our customers have come to expect from Samsung Techwin.”
The transaction is expected to be completed during the first half of 2015, subject to approval from anti-trust regulatory authorities in relevant jurisdictions.
Founded in 1952, the Hanwha Group is a global leader in a broad range of businesses spanning the spectrum of manufacturing, construction, finance, services and the leisure industry. Taken together, the Group’s 52 domestic and 90 overseas affiliates provide a multitude of customers around the globe with premier products and services.
In 2013, the Hanwha Group achieved total revenues of US$35.13 billion while its assets were valued at approximately US$117.4 billion.