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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Jisun] LG Display is expected to complete the sale of its Guangzhou LCD plant by the third or fourth quarter of this year, following its acquisition of the plant's entire stake from the Chinese TV manufacturer Skyworth.
On the 19th, industry sources reported that Skyworth Group agreed to sell its entire stake in LG Display's Guangzhou subsidiary, LG Display Guangzhou Co., Ltd., to LG Display. The total sale price is 1.3 billion yuan (approximately 2.436 trillion KRW). Previously, the ownership structure of LG Display's Guangzhou plant was: LG Display (70%), Guangzhou Hi-Tech Holdings Co., Ltd. (20%, a government entity), and Skyworth-RGB (10%).
LG Display had announced on August 1st that it selected CSOT as the preferred bidder for the sale of its stake in the Guangzhou plant. CSOT, a Chinese display manufacturer, competed with BOE but presented the best conditions in terms of price and future competitive strategies.
The sale is expected to bring LG Display a significant amount of funds, estimated to be between 1.9 trillion to 2 trillion KRW. The transaction is anticipated to be completed by the end of the third or fourth quarter.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
