Cheil Industries completes Novaled's acquisition

A couple of months ago Samsung announced it is acquiring Novaled for €260 million (almost $350 million). Today the Novaled announced that the deal is closed and the company is officially now owned by Samsung.

So now Novaled is owned by Samsung Cheil Industries (50%), Samsung Electronics (40%) and Samsung Venture Investment (10%). Samsung actually paid €230 million, and the rest of the amount (€30 million) is conditional to reaching certain milestones.

Cheil decided to focus entirely on electronic components and materials. The company recently sold their fashion division to Samsung Everland for a trillion Won (almost a billion US dollars). This money will be re-invested in their electronic materials business (not just OLEDs).

Disclosure: Novaled is a long-time OLED-Info sponsor. Congratulations my friends!

Posted: Oct 22,2013 by Ron Mertens