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Purchase of Business

30th Apr 2019 07:00

RNS Number : 5212X
Samsung Electronics Co. Ld
30 April 2019
 

Purchase of Business

 

Samsung Electronics Co., Ltd. (KS005930, KS005935, SMSN, SMSD; "SEC") on April 30, 2019 announced that its Board of Directors has approved the purchase of a certain business from Samsung Electro-Mechanics Co., Ltd., a subsidiary of SEC.

 

▫ Details

1. Scheduled purchase date: June 1, 2019

 

2. Purchased assets: PLP business of Samsung Electro-Mechanics Co., Ltd., (all assets, liabilities, and rights)

 

3. Expected purchase price: KRW 785,000 million

 

4. Expected effects of purchase:

- Boost competitiveness in semiconductor packaging

- Enhance operational efficiency and productivity through comprehensive management of

semiconductor assembly and testing

 

5. Number of Independent Directors present at Board meeting: 6

 

6. Attendance of Audit Committee: Y

 

7. Other:

- The scheduled purchase date may change in accordance with relevant regulations (authorization,

permission, approval, consultation with relevant organizations, etc.).

- The expected purchase price may change in accordance with the contract and agreement between

the transaction parties.

 

This disclosure is in accordance with the Korean Fair Trade Act, which mandates that a company must disclose financial and real

estate transactions in the event the value of such a transaction is greater or equal to KRW 5 billion and the counterparty is an

affiliate of the party required to make the disclosure.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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