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Businesses

Submission + - Samsung buys Sony's Stake from LCD Joint Venture S->

rtoz writes: "Samsung Electronics has decided to buy out Sony’s entire stake in their Liquid Crystal Display (LCD) joint venture S-LCD

Samsung will pay Sony 1.08 trillion won ($939m; £600m) in cash for Sony’s entire stake (50% – 1 shares) in S-LCD Corp., a venture formed in 2004 to make TV panels. After acquisition, Samsung Electronics’ stake in S-LCD will be 100%.

The move comes as Sony has been restructuring its TV business, which has been making a loss for the past seven years."

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Samsung buys Sony's Stake from LCD Joint Venture S

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