Stake moves to the parent
Samsung Display will transfer its 10.16% interest in TCL China Star Optoelectronics Technology to its parent company, Samsung Electronics, the two companies said in a joint announcement issued after the market closed on October 30.
When the transfer is complete, Samsung Electronics will hold that 10.16% stake in TCL CSOT directly rather than through Samsung Display.
TCL Technology keeps control
TCL Technology will continue to hold 82.82% of TCL CSOT, and the transaction will not affect its controlling position in the subsidiary, the announcement said.
What the companies say it is for
TCL Technology said the change in shareholding will help TCL CSOT deepen strategic cooperation with Samsung Electronics, which it described as an important customer with an established business relationship in display panels.
The company said the move is expected to strengthen alignment with that customer, support continued business development, reinforce existing business ties and create opportunities for closer collaboration across the display value chain.
