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 Hanwha Group.
Mr Jong Wan Lim, Managing Director of the Security Solution for Samsung Techwin Europe Ltd, said: “Hanwha Group’s investment in Samsung Techwin will enable us to continue research, design, and development of innovative market leading solutions that will create new business opportunities and ensure our future growth. Customers can be assured that it is ‘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 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 antitrust regulatory authorities in relevant jurisdictions.
Founded in 1952 Hanwha Group covers manufacturing, construction, finance, services, and leisure. The Group has 52 domestic and 90 overseas affiliates and in 2013, achieved a total revenue of USD 35.13 billion, while its assets were valued at about USD117.4 billion.
