Lotte Group said Monday that it changed the name of a chemical unit that it took over from Samsung Group.
Samsung Fine Chemicals was renamed Lotte Fine Chemicals, according to the group.
|
(Yonhap) |
In 2015, retail and chemicals giant Lotte Group took over Samsung Fine Chemicals for 3 trillion won ($2.4 billion) as part of an effort to further strengthen its chemicals business.
The deal came around a year after Samsung sold four of its defense and chemical units to Hanwha Group in 2014 through a deal estimated at 1.9 trillion won.
Samsung, the country’s top conglomerate, has been making efforts to reorganize and streamline its business structure, especially after the family-controlled conglomerate‘s de facto head Lee Kun-hee has remained bedridden since May 2014.
The group has been making various efforts to pave the way for the management inheritance to his only son, Lee Jae-yong.
(
khnews@heraldcorp.com)