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  "documentTitle": "Samsung C&T Corporation (028260 KS)",
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  "presentationDate": "2023-12-06 00:00:00",
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  "notes": "Illustrates a corporate restructuring strategy involving a horizontal spin-off merger.",
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      "text": "Deconsolidation / horizontal spin-off of SCT into an investment company (\"InvCo\") and an operating company (\"OpCo\")\nSCT's stakes in listed Samsung affiliates, treasury shares and any excess cash moves to SCT InvCo, while all operating assets and liabilities are retained in SCT OpCo – to be structured as a tax qualified transaction\nSCT shareholders end up holding an equivalent number of shares in SCT OpCo and SCT InvCo (as an entitlement, before SCT InvCo merges with the other newly created InvCos as part of the next integrated stage of the process) in line with their pre-spin-off shareholdings in SCT",
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      "text": "Note: - SCT = Samsung C&T",
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      "text": "Key Steps in Potential Restructuring – Step 1A: Spin-offs",
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