Monday, December 26, 2011

Samsung Elec says to buy Sony stake in LCD JV for $939 mln

SEOUL (Dec 26): Samsung Electronics said on Monday that its board had approved a plan to buy Sony's entire stake in their joint liquid crystal display (LCD) venture for 1.08 trillion won ($938.97 million).

Samsung and Sony plan to sign an agreement on the deal on Monday, Samsung said in a regulatory filing.

Sony holds a nearly 50 percent stake in LCD joint venture S-LCD, which was established in April 2004 to secure stable supplies of the component. ($1 = 1150.2000 Korean won). - Reuters

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