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SEC's acquisition of affiliate's stake in overseas

27th Apr 2012 09:45

RNS Number : 2233C
Samsung Electronics Co. Ld
27 April 2012
 



SEC's acquisition of Affiliate's stake in Overseas Subsidiaries

 

 

On April 27, 2012, the BOD of Samsung Electronics decided to purchase Samsung Corp.'s stake in Samsung Japan Corporation (49.04%) and Samsung Asia Pte Ltd (30.00%). The stake acquisition is aimed at reinforcing management efficiency. After the acquisition, the two companies will become wholly-owned subsidiaries of Samsung Electronics.

 

o Details

(1) Purchasing Samsung Corp.'s stake in Samsung Japan Corporation

- Total value of shares: Approx. KRW 159.3 billion

 ž 765,000 shares  KRW 208,206 (price per share)

- Transaction date: April 27, 2012

 

(2) Purchasing Samsung Corp.'s stake in Samsung Asia Pte Ltd

- Total value of shares: Approx. KRW 19.5 billion

 ž 18,390,578 shares  KRW 1,058 (price per share)

- Transaction date: April 27, 2012

 

 Pursuant to the Fair Trade Act, a company is required to disclose any transaction with its affiliates that exceeds KRW5 billion.

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