Samsung SDI to mull sale of display affiliate stake to raise investment funds

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Samsung SDI to mull sale of display affiliate stake to raise investment funds

The company's logo can be seen in this image provided by Samsung SDI.  [YONHAP]

The company's logo can be seen in this image provided by Samsung SDI. [YONHAP]

 
Samsung SDI, the battery arm of Samsung Group, said Thursday it will review the sale of its stake in Samsung Display to raise money for investment and improve its financial health.
 
The battery maker said in a regulatory filing that it reported the plan to its board of directors earlier in the day.
 

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Samsung SDI currently holds a 15.2 percent stake in Samsung Display, a non-listed Samsung affiliate, with an estimated value of around 10 trillion won ($6.8 billion). Samsung Electronics holds the remaining stake.
 
Samsung SDI said it plans to provide additional details, including the buyer, size, conditions and timing of the possible sale, in future regulatory filings.
 
During its earnings conference call this month, Samsung SDI hinted that the company is considering various measures, including utilizing existing assets, to raise cash for its investment projects. 

Yonhap
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