Under the agreement, Samsung will acquire all of Sony’s shares of S-LCD Corporation (â€œS-LCDâ€), the two companies’ LCD panel manufacturing joint venture, making S-LCD a wholly owned subsidiary of Samsung. In consideration for the share transfer, cash consideration of approximately KRW 1.08 trillion will be paid to Sony by Samsung. […]
For Sony, this transaction will enable it to monetize its shares in S-LCD and aims to secure a flexible and steady supply of LCD panels from Samsung, based on market prices and without the responsibility and costs of operating a manufacturing facility. With whole ownership of S-LCD, Samsung anticipates heightened flexibility, speed and efficiency in both panel production and business operations.
That’s about US$940 million. A big chunk of cash Sony desperately needs.