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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Jisun] LG Display announced on the 26th that its board approved the sale of its stake in the Guangzhou large-size LCD panel and module plant to China Star Optoelectronics Technology (CSOT), a subsidiary of China's TCL Group.
The sale agreement, valued at 10.8 billion yuan (approximately 2.03 trillion won), involves the transfer of LG Display's stake in the Guangzhou facility to CSOT, with the transaction expected to close by March 31, 2025.
The Guangzhou plant is a joint venture, with LG Display holding a 70% stake (51% through its headquarters and 19% through a Chinese subsidiary), Guangzhou Development Zone holding 20%, and Skyworth owning 10%. Earlier, on September 13th, LG Display increased its stake to 80% by purchasing Skyworth’s shares for 1.3 billion yuan (approximately 243.8 billion won). The module plant, which handles the later stages of LCD panel production, is fully owned by LG Display.
LG Display stated that the purpose of the sale is to streamline its business focus towards OLED technology by divesting from large-size LCD production.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
