Samsung's successor North America launches huge deal

Beijing time November 27 Morning news, in Samsung Group chairman Lee Kun-hee (Lee Kun Hee) hospital treatment, his son Lee (Lee Jae Yong) has carved his own imprint on the group. Under his administration, Samsung has launched a total of $8 billion trillion in trading activities, including Samsung's electronic repurchase of its own shares.

The 46-Year-old Lee yesterday sold shares related to at least 8 companies, while Samsung Electronics said it would buy up $2 billion worth of shares. Samsung has also sold shares in chemical and defense operations. The group has announced a number of mergers and IPOs (IPO) deals following the hospitalization of Mr Lee's heart attack this May.

During Mr Lee's recovery, Lee is trying to find a way forward for more than 70 companies under his family's control. At present, Samsung Electronics, the world's largest smartphone company, is facing a slump in profits, and the South Korean government's crackdown on the chaebol has added to its woes. Samsung has a stake in television, weapons, shipbuilding and insurance, but is now narrowing its focus to prepare for the Lee succession.

"Samsung is transitioning to a new generation of successors, which is a strategy for the group to build a Lee image and raise its profile," said Park Ju gun, CEOSCOR president of Enterprise Watch. Lee must make a final decision on these transactions in the absence of Mr Lee. ”

Lee Kun-hee's total personal wealth of nearly 12.1 billion dollars, and if his three children to inherit this wealth, will face more than 5 billion dollars in the estate tax.

Samsung will unveil its annual management adjustment plan next month, and Lee is expected to be promoted to Samsung Electronics chairman, which has 70 of its revenue from Samsung Electronics.

According to a regulatory document filed yesterday by Samsung Electronics, the company will buy back 1.65 million common shares and 250,000 preferred shares, which will be completed before February 26 next year. The current market value of Samsung Electronics is about 160 billion dollars. "The Vice Chairman (Lee) did not play a leading role in the latest stock sale deals," said Kevin Cho, a spokeswoman for Samsung Group. ”