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Samsung shareholders approve affiliates merger

Monday 20 July 2015 | 09:51 CET | News
Samsung shareholders have approved a USD 8 billion merger of two Samsung affiliates. Samsung shareholders have now approved the merger with 69.5 percent of votes cast, slightly more than the required two-thirds majority, The WSJ reports. The merger between the Samsung conglomerate's de facto holding company, Cheil Industries, and construction-and-trading unit Samsung C&T, will provide heir apparent Lee Jae-yong with a direct stake of 16.5 percent in the merged entity, which will retain the Samsung C&T name and relist on 15 September. He will gain control over Samsung C&T's 4.1 percent stake

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Categories: Mobile & Wireless
Companies: Samsung
Countries: World
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