27th Apr 2012 09:45
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.
Related Shares:
Samsung El.gdr