Samsung SDI to Sell $3.2 Billion Stake in Samsung Display
Korea Economic Daily
Summary
- Samsung SDI said in a regulatory filing that it will transfer part of its Samsung Display stake to Samsung Display.
- The deal covers 13,088,235 shares, or about 33% of its total holdings, and the transaction value is 4.4499999 trillion won, or about $3.2 billion.
- The sale will reduce Samsung SDI's ownership stake to 10.2% from 15.2%, and the company plans to use the proceeds for investment in future growth drivers.
Forecast Trend Report by Period
Samsung SDI said in a regulatory filing on August 21 that it will transfer part of its stake in Samsung Display to the company for about $3.2 billion.
Samsung SDI said it decided on August 21 to sell 13,088,235 Samsung Display shares to Samsung Display. The stake equals about 33% of the 39,856,654 shares it holds in the company. The transaction is valued at 4.4499999 trillion won, or about $3.2 billion.
The sale will reduce Samsung SDI's stake in Samsung Display to 10.2% from 15.2%.
Samsung SDI said it plans to use the proceeds for investments to secure future growth drivers.
Shin Yong-hyun, Hankyung.com reporter yonghyun@hankyung.com
Korea Economic Daily
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