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Shake-up in key Samsung assets to cement heir's grip as succession looms

Reuters  |  SEOUL 

By Joyce Lee and Se Young LeeSEOUL (Reuters) - Samsung Group's de facto holding company on Tuesday sought another cornerstone as it reconstructs South Korea's biggest conglomerate to smooth the path for management succession, offering more than $8 billion to buy an affiliate with a key stake in flagship firm Samsung Electronics. Cheil Industries Inc, with interests from construction to fashion, is offering new stock priced at about 8.9 trillion won ($8.11 billion) to buy building firm Samsung C&T Corp. After recent market jitters on Samsung's overhaul, shares in both rose nearly 15 percent - ...

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First Published: Tue, May 26 2015. 13:54 IST