Samsung Techwin to be sold to Hanwha

Samsung announced on Nov. 26, 2014 that it will sell Samsung Techwin to Hanwha, the 10th largest conglomerate in Korea, as part of efforts to restructure the electronics-based business group. Under the deal worth 2 trillion won (US $1.8 billion), which also affects the sale of Samsung’s petro-chemical companies, the electronics giant agreed to sell a 32.4 percent stake in Samsung Techwin, for $765 million to Hanwha. Samsung Techwin is South Korea’s most well-known brand in CCTV Surveillance equipment. The deal is expected to be completed by mid-January 2015.

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