Hanwha Chemical Corp. (KOSE:A009830) and Hanwha Energy Corp. agreed to acquire 57.62% stake in Samsung General Chemicals Co., Ltd. from a group of investors for KRW 1.1 trillion on November 25, 2014. Samsung C&T Corporation (KOSE:A000830), Samsung Electro-Mechanics Co. Ltd. (KOSE:A009150), Samsung SDI Co. Ltd. (KOSE:A006400), Samsung Electronics Co. Ltd. (KOSE:A005930), Samsung Fine Chemicals Co. Ltd. (KOSE:A004000), Cheil Worldwide Inc. (KOSE:A030000), Boo-Jin Lee, and Kun-Hee Lee will sell their stake in the transaction. Hanwha Chemical Corp. will acquire 15.32 million shares for KRW 508.08 billion. Hanwha Energy Corp. is acquiring 16.64 million shares for KRW 551.92 billion. Samsung General Chemicals Co., Ltd reported revenues of KRW 207.3 billion, total asset of KRW 1.6 trillion, total common equity of KRW 1.6 trillion and net income of KRW 205.3 billion for the year ended December 31, 2013.

Hanwha Chemical Corp. (KOSE:A009830) and Hanwha Energy Corp. signed a definitive agreement to acquire 56.1% stake in Samsung General Chemicals Co., Ltd. on November 26, 2014. As on March 31, 2015, Samsung C&T Corporation agreed to sell 12.8 million shares as compared to 11.02 million shares and Samsung SDI Co. Ltd. agreed to sell 5.75 million shares as compared to 7.47 million shares as agreed to be sold on November 25, 2014. The transaction was approved by the Board of Hanwha Corp. Board of Directors of Hanwha Energy Corporation made a resolution in favor of the transaction on November 26, 2014. The deal was approved by the Board of Directors of Samsung Electronics. Samsung C&T Corporation and Samsung SDI Co. Ltd. will hold sales priority regarding the remaining shares once Samsung General Chemicals Co., Ltd. is listed. Samsung C&T Corporation and Samsung SDI Co. Ltd. will hold put option and Hanwha Chemical will hold call option regarding the remaining shares when Samsung General Chemicals Co., Ltd. gets unlisted within 6 years.

The scheduled acquisition date is June 30, 2015. Part of the proceeds from the sale will be used by Samsung Group to invest in new businesses. The scheduled date for sales is April 30, 2015. As of March 6, 2015, Korea Fair trade Commission conditionally approved the transaction. Lee & Ko acted as legal advisor for Hanwha Chemical Corp and Hanwha Energy Corporation. Bae Kim & Lee acted as legal advisor for Samsung C&T Corporation, Samsung Electro-Mechanics Co. Ltd, Samsung General Chemicals Co., Ltd and Samsung SDI Co. Ltd. Ernst & Young acted as accountant to Samsung Electronics Co. Ltd. Hee Woong Yoon, Young Su Shin, Joon Hyung Kim, Tae Ho Lee, Dai Won Chung, Jung Pyo Seo, Eung Moon Yi, So Yeon Yoon, Man Hang Choi, Seung-min Lee and Chris H. Kang of Yulchon acted as legal advisors for both Hanwha Chemical and Hanwha Energy.

Hanwha Chemical Corp. (KOSE:A009830) and Hanwha Energy Corp. completed the acquisition of 57.62% stake in Samsung General Chemicals Co., Ltd. from a group of investors for KRW 1.1 trillion on April 30, 2015. Hanwha Chemical Corp. (KOSE:A009830) and Hanwha Energy Corp paid KRW 494 billion and KRW 536 billion for their stakes.