법무법인(유한) 율촌 | Yulchon LLC

Yulchon represented the Hanwha Group in Hanwha Chemical"s and Hanwha Energy"s successful acquisition of management rights and 57.62% of Samsung General Chemicals" shares from Samsung C&T. This transaction allowed the Hanwha Group to takeover Samsung Total, a corporation jointly owned by the French oil and gas company Total. This takeover was made possible because Samsung General Chemicals holds 50% of the shares of Samsung Total, The deal yielded a share sales price amounting to approximately KRW 1.03 trillion.

This transaction was part of the so-called "Big Deal" between the Samsung Group and the Hanwha Group by which Hanwha is purchasing core companies in defense and chemical sector from the Samsung Group. With the successful, earlier-than-expected closing of the transaction, the Hanwha Group was able to fortify its bedrock businesses as well as further increase its competitiveness in the petrochemical industry.

Throughout the transaction process, Yulchon delivered comprehensive advisory services including legal due diligence on Samsung General Chemicals, Samsung Total and their affiliates and risk assessment on key legal issues (verified through due diligence procedures and delivery of solutions), as well as leading the negotiations with Total in order to facilitate the closing of the transaction and post-closing activities.

During the transaction, a number of circumstances had to be taken into consideration including the need to modify the agreements between Samsung General Chemicals and Total with regards to Samsung Total.

After the transaction was complete, the brand needed to change from "Samsung" to "Hanwha" and the legal due diligence for this conversion was undertaken after the share sales agreement was completed. Throughout the entire transaction process, Yulchon provided meticulous due diligence and strategic legal advisory services.
 

By integrating the firm"s entire practice groups, our team was able to deliver exemplary advisory services to the client.