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Samsung's eldest daughter becomes biggest shareholder of loss-making petrochemical unit
SEOUL, Oct. 10 (Yonhap) -- Samsung Group, South Korea's largest family-run industrial conglomerate, said Wednesday it has bought a 47.4 percent stake in loss-making Samsung Petrochemical Co. from BP Plc for a total of 64.2 billion won (US$70.2 million), ending a 30-year-old partnership with the European oil company.
Lee Bu-jin, the eldest daughter of Samsung Chairman Lee Kun-hee, purchased a 33.18 percent stake in the petrochemical affiliate for 45 billion won and Samsung Corp., the group's trading arm, bought a 14.22 percent stake for 19.2 billion won, said a group official.
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