Samsung continues group-wide restructuring

|By:, SA News Editor

In another round of Samsung restructuring, Samsung Heavy Industries (OTC:SMSHF) will absorb Samsung Engineering in a 2.5T won ($2.5B) deal.

Under the terms of the transaction, Samsung Heavy will issue around 94M new shares to Samsung Engineering shareholders at 26,972 won per share.

Samsung's restructuring has accelerated since the May hospitalization of the group's chairman Lee Kun-hee, and has sparked investor speculation to the group's succession.