Samsung SDI, a South Korea-based battery maker, said in a regulatory filing on August 21 that it will sell 13.09 million shares in affiliate Samsung Display to the display maker for about 4.5 trillion won (US$3.21 billion). The sale will raise funds for future growth.

Samsung Display plans to buy the shares as treasury stock at 340,000 won (US$240) each.

The transaction is scheduled to close on August 27, though Samsung SDI said the final number of shares and value could change during the repurchase process.

After the sale, Samsung SDI will retain 26.77 million Samsung Display shares, equal to a 10.22% stake.

Samsung SDI has recently outlined battery investments, including a US joint venture plant with General Motors designed for 30 GWh of annual capacity.

Mass production at the plant is planned to begin in 2026, with total investment of more than US$3 billion.

🔗 Source: Reuters

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