Shares in Cheil Industries Inc (028260.KS), the de facto holding company of Samsung Group, doubled on its debut on Thursday in the latest in a series of steps toward generational succession for South Korea's largest conglomerate.
Samsung Heavy Industries
Breaking News
South Korea's National Pension Service does not support the merger of two Samsung Group units and plans to ask them to buy back its holdings in the pair, an NPS spokeswoman said on Saturday.
Samsung Heavy Industries will absorb Samsung Engineering for about $2.5 billion, the latest step in a restructuring at South Korea's largest conglomerate that has accelerated since the controlling Lee family's patriarch was hospitalized in May.
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