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Samsung to Buy Back Shares After $1.7 Billion Chemicals Sale

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Samsung Electronics Co. said it will buy back shares valued at 2.19 trillion won ($2 billion) after its parent group announced the sale of stakes in chemicals and defense businesses in the chaebol’s biggest restructuring.

Samsung Electronics, the world’s biggest mobile-phone maker, will buy back 1.65 million common shares and 250,000 preferred stock, according to a regulatory filing today. The Suwon, South Korea-based company, with a market value of 176.9 trillion won, will buy stock from the market by Feb. 26.