26th Nov 2014 07:00
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.
Related Shares:
Samsung El.gdr