Last checked at 29 Feb 2016 08:33
Sales of Stakes (Update)
February 29, 2016, Samsung Electronics Co., Ltd. (KS005930, KS005935, SMSN, SMSD)
("SEC") announced today that the sales of SEC's stake in Samsung Fine Chemicals to Lotte
Chemical Corporation has been finalized and is now closed. The deal was originally announced on
October 30, 2015. Details of the transaction, including the transaction amount, remain unchanged
from the original announcement.
Details
1. Details of Transaction:
The Company sold a total of 2,164,970 shares of Samsung Fine Chemicals. Certain other affiliates of
SEC (i.e., Samsung SDI, Samsung C&T, Hotel Shilla, and Samsung Electro-Mechanics) also sold their
respective stakes in Samsung Fine Chemicals.
* Total number of Samsung Fine Chemicals shares issued: 25,800,000
2. Transaction Amount: KRW 125.350 billion
3. Date of Transaction
Updated Information: The transaction has been finalized and closed on February 29, 2016.
4. Reason for Divestment
The purpose of the divestment is to secure capital for investment in new businesses as well as allocating
additional resources to strengthen the Company's core competencies.
5. Other Information
Details on contract resolution (including put-option): None
* This public disclosure is in accordance with the Financial Investment Services and Capital Markets Act (Article 200-1) of the Republic of Korea, which requires major shareholders of a stock-listed corporation to report matters concerning the current status of specific securities, etc. owned by type and changes therein. This disclosure contains forward-looking statements. Readers are cautioned that such forward-looking statements involve risks and uncertainties that could significantly affect actual results from those expressed in any such forward-looking statements due to, without limitation, (i) general economic conditions, including in particular economic conditions in SEC's core businesses and core markets, (ii) performance of financial markets, including emerging markets, and including market volatility, liquidity and credit events, (iii) currency exchange rates, (iv) changing levels of competition, (v) changes in laws and regulations, (vi) general competitive factors, in each case on a local, regional, national and/or global basis. The matters discussed herein may also be affected by risks and uncertainties described from time to time in SEC's filings with the Korea Stock Exchange (KRX), FSS (Korea) and Samsung Website. Further information about risks and uncertainties affecting Samsung Electronics Co., Ltd. is included throughout our most recent annual and interim reports, as well as our most recent earnings release, which are available on http://www.samsung.com/ir. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results, performance or achievements of SEC may vary materially from those described in the relevant forward-looking statement, and all such statements are subject to certain risks and uncertainties that could cause our actual results to be materially different from those expressed herein. The company assumes no obligation to update any forward-looking statement.