Samsung Electronics will merge with its subsidiary Samsung LED

Samsung Electronics announces that it will merge with its subsidiary Samsung LED and buy Sony's share in an LCD display joint venture.

The next 20 January Samsung Electronics will sign a merger agreement with its subsidiary Samsung LED with the aim of fueling the future growth of its business in the field of LED technology. This agreement will enter into force on 1 April, after receiving the relevant authorizations from the boards of Samsung Electronics and Samsung LED.

On the other hand, Samsung Electronics has reached an agreement to acquire for an amount of 1,08 billions of wons (720 million euros) the participation of 50% less one share in the hands of Sony in the joint venture created by both companies for the manufacture of LCD screens, after which the South Korean electronics manufacturer will control the 100% by dicha ‘joint venture’.

The purchase of a total of 329,99 million shares will be completed next 19 January and will mark the beginning of a strategic collaboration agreement by which, among other measures, Samsung will continue supplying LCD screens to Sony.