Pursuits
Samsung Heirs Show How to Gain $25 Billion in Revenue for Free
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Lee Jae Yong and his two sisters look like they just got quite a bargain in the latest move to tighten their control of South Korea’s Samsung Group.
In a deal announced Tuesday, Cheil Industries Inc., the group’s de facto holding company, will buy out construction affiliate Samsung C&T Corp. for about $9.2 billion in stock. The genius of the deal: Aside from generating about $25 billion in revenue, C&T holds more than $12 billion in other companies’ shares, including crown jewel Samsung Electronics Co.