Last checked at 20 Feb 2012 10:13
Investment in Samsung Biologics
On February 20, 2012, the Board of Directors of Samsung Electronics decided to make investments in Samsung Biologics.
Details:
1. Overview
Samsung Biologics, in which Samsung Electronics owns a 40% stake, and Biogen Idec,
Inc. (US) are seeking to establish a joint venture. Samsung Electronics decided to participate
in Samsung Biologics' rights offerings going forward, which are aimed at investing in the
new joint venture, in proportion to its stake in Samsung Biologics.
- The joint venture is set to be established in February with a total equity target of
KRW330 billion. (Samsung Biologics 85%, Biogen Idec, Inc. 15%
- Samsung Electronics plans to invest a total of KRW124.7 billion by participating in the
four rounds of rights offerings to be held by Samsung Biologics in the aim of raising
capital for the new joint venture.
2. Decision-making
The BOD's decision was made with three Executive Directors and Four Independent
Directors attended.
3. Ownership structure of Samsung Biologics:
Samsung group 90% (Samsung Electronics 40%, Samsung Everland 40%, Samsung Corp.10%),
Quintiles (US) 10%
Asset Sales to New Joint Venture
The Board of Directors of Samsung Electronics also decided to sell its assets to a new joint venture to be established between Samsung Biologics and Biogen Idec, Inc.
- Subject asset: Biosimilar-related development facilities, etc.
- Transaction amount: KRW46 billion
※Related disclosure: Investment in Samsung Biologics (February 20, 2012)