Samsung SDI to sell part of its stake in Samsung Display

Corporate Action
โดย Just Auto·KRUS·Read original
Summary · why it matters

Samsung SDI has agreed to reduce its stake in Samsung Display from 15.2% to 10.2%, selling 13.09 million shares at KRW 304,000 each to free up KRW 4.45 trillion, or US$3.2 billion, for investment in future growth businesses. Samsung Display will buy back the shares as treasury stock, with the final valuation subject to change during the repurchasing process. The move comes as Samsung SDI faces rising investment demand in the US amid falling battery electric vehicle sales following the withdrawal of purchase incentives worth up to US$7,500 per vehicle last year. Samsung SDI recently agreed to take over General Motors' almost 50% stake in its Synergy Cells joint venture, giving it full control of the US$3.5 billion battery plant under construction in New Carlisle, Indiana.

Impact on stocks 2

Electrification & Mobility± Mixed · 2 stocks
Samsung SDI
006400
▲ PositiveCapitalrelevance

Samsung SDI sells stake to raise funds for future growth investments, including full control of GM battery JV.

General Motors Company
GM
▼ NegativeDemandrelevance

GM's stake sale in battery JV reflects falling EV sales due to incentive withdrawal, impacting its EV business.

Theme Impact 1

Off-coverage companies 1

Samsung Display Co., Ltd.Private▼ Negative
Capitalrelevance

Samsung Display buys back shares as treasury stock, reducing its outstanding shares but not directly impacting operations.

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