© edhar yralaits / Business | December 30, 2011

Samsung to acquire Sony's shares in S-LCD

Samsung will acquire all of Sony's shares of S-LCD Corporation (S-LCD), the two companies' LCD panel manufacturing joint venture, making S-LCD a wholly owned subsidiary of Samsung.
In consideration for the share transfer, cash consideration of approximately KRW 1.08 trillion (EUR 719 million) will be paid to Sony by Samsung. Concurrently, the two companies have entered into a new strategic agreement for the supply and purchase of LCD panels with a goal of enhancing the competitiveness of both companies. The agreement also allows Sony and Samsung to continue cooperative engineering efforts focused on LCD panel technology.

The share transfer and payment are targeted to close by the end of January 2012, subject to necessary approvals from regulatory authorities.


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