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Sales of Stakes (Update)

29th Jun 2015 13:07

RNS Number : 5232R
Samsung Electronics Co. Ld
29 June 2015
 



Sales of Stakes (Update)

Samsung Electronics Co., Ltd. (KS005930, KS005935, SMSN, SMSD) ("SEC") announced today

that the sales of SEC's stake in Samsung Techwin Co., LTD. to Hanwha Corporation has been finalized and closed on June 29, 2015. The deal was originally announced on November 26, 2014, following the

approval of the transaction by SEC's Board of Directors earlier in the day. The information below sets

forth updates to the transaction details as of the closing.

 

Details

 

1. Transaction Amount (Total Consideration): 

Original Transaction Amount: KRW 661,017,094,688

Updated Transaction Amount: KRW 647,796,752,794

 

Updated transaction amount reflects the adjustment to the purchase price made following due

diligence as per the terms of the definitive agreement.

† The purchase price is subject to upward adjustment subject to the satisfaction of certain conditions.

 

2. Reason for Divestment

The purpose of divestment is to reinvest the capital in new and SEC's existing businesses to strengthen

the company's core competencies.

 

 

 

3. Other Information

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

 

* This public disclosure is in accordance with the Financial Investment Services and Capital Markets Act (Article 391) 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.

 

AVS # : 688582

 

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

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