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Sales of Equity Assets (Samsung Techwin)

26 Nov 2014 07:00

RNS Number : 0009Y
Samsung Electronics Co. Ld
26 November 2014
 



 

Sales of Equity Assets

On 26 November 2014, the Board of Directors of Samsung Electronics authorized the sales of equity assets in Samsung Techwin Co., LTD. (KRX:012450) to Hanwha Corporation (KRW:000880). Samsung Techwin is an affiliate company in Samsung Group.

 

Details

1. Details of Transaction:

Samsung Electronics plans to sale a total of 13,526,935 shares.

\* The total number of shares issued 53,130,000.

2. Transaction amount: KRW 661 billion

3. Date of Transaction

The effective date of asset transfer is 26 November 2014. The asset transfer will be

executed sequentially and closed-out by June 2015.

4. Decision-making

The purpose of asset sale is secure capital resources for investments in new businesses and to strengthen the Company's core competency.

5. Details on contract resolution (including put-option): None

6. Other information

ž Samsung C&T(KRW:00830), Samsung Securities (KRW:016360), Samsung Life Insurance (KRW:032830), and Samsung SDI (KRW:006400) also plans to sale their assets of Samsung Techwin.

ž The actual transaction amount could differ due to adjustment in asset price, etc.

* This public disclosure is in accordance with the Financial Investment Services and Capital Markets Act (Article 200-1), which mandates major shareholder of a stock-listed corporation to report matters concerning

the current status of specific securities, etc. owned by type and changes therein.

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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