Samsung C&T takes over U.S. energy firm
Seoul - Yonhap
Samsung C&T Corp., a South Korean trading and construction company, said Wednesday that it has taken over a U.S. energy firm along with the country's state-run oil developer in a bid to expand its energy business in the U.S. market. Samsung C&T purchased a 90 percent stake in Parallel Petroleum LLC from its owner PLLL Holdings LLC with the Korean National Oil Corp. holding the remaining 10 percent, said the South Korean company. Samsung C&T did not elaborate on further details of the contract, including the value of the deal.
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