Seoul: Samsung Group said on Wednesday it is selling stakes in defence firm Samsung Techwin Co Ltd and three other units for 1.9 trillion won ($1.72 billion) to Hanwha Group units.
Samsung Group said in a statement Samsung Electronics Co Ltd, Samsung C&T Corp and other Samsung affiliates decided to sell a 32.4 percent stake in Samsung Techwin to Hanwha Corp for 840 billion won, and a 57.6 percent stake in Samsung General Chemicals Co Ltd to Hanwha Chemical Corp and Hanwha Energy Corp for 1.06 trillion won.
The control of Samsung Thales Co Ltd, a joint venture unit with French defence electronics firm Thales, and Samsung Total Petrochemicals Co Ltd, a joint venture unit with France`s Total SA, is also being transferred to Hanwha units, Samsung Group said.
The sale is expected to be completed in the first half of next year.
