Samsung Group to Sell Defense Affiliates to Hanwha Group

On November 26, multiple news sources, including Reuters, reported that the Samsung Group, Seoul, had announced the sale of stakes in four petrochemical and defense affiliates, including Samsung Techwin, for $1.7 billion to the Hanwha Group, also based in Seoul, South Korea. At press time, representatives for Samsung Techwin America, Ridgefield, Conn., were not available for comment. According to multiple news sources, the sale will not be finalized until early next year. This is an ongoing story; please check back on SDMmag.com for developments.

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