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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Jisun] LG Display is set to sell its Guangzhou LCD production subsidiary to China Star Optoelectronics Technology (CSOT), a display subsidiary of Chinese electronics company TCL. On August 1st, LG Display announced that CSOT has been selected as the preferred negotiation partner for the sale.
The sale price of the Guangzhou subsidiary is estimated to be between 1.9 trillion and 2 trillion won. LG Display chose CSOT based on their proposal, which offered the best conditions among the bids received, including acquisition price, operational support plans, and other requirements. CSOT had previously acquired Samsung Display’s Suzhou 8.5-generation LCD plant in 2021.
LG Display and CSOT will now enter detailed negotiations for the stock purchase agreement (SPA). LG Display stated that they will make a public announcement in accordance with regulations once a decision regarding the contract is made.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
