Written in May. 26, 2015
From Bloomberg Business > Topics > Family stories

[Samsung’s Lee Tightens Grip on Chaebol in $9.3 Billion Deal]

Samsung Group heir apparent Lee Jae Yong solidified his control of South Korea’s biggest conglomerate through the $9.3 billion purchase of a construction subsidiary.

Cheil Industries Inc., the de facto holding company of the chaebol and which counts Lee as the largest shareholder, agreed to acquire Samsung C&T Corp., according to a filing Tuesday. Shares of both companies surged a second day.

Samsung Group is revamping businesses as its leadership transitions to a new generation amid pressure from the South Korean government to simplify the chaebol’s organization. Lee, 46, is exerting more influence throughout the conglomerate a year after his father suffered a heart attack that has kept him from involvement in company operations.

For more details, click the link below:
http://www.bloomberg.com/news/articles/2015-05-25/cheil-industries-to-acquire-samsung-c-t-in-all-stock-deal