KB News Desk
Samsung SDI said Friday it will sell a portion of its stake in affiliate Samsung Display for 4.45 trillion won ($3.22 billion), as the battery maker seeks to secure funds for investment in future growth businesses.
In a regulatory filing, Samsung SDI said it will sell 13.09 million shares in Samsung Display for 340,000 won apiece, representing about 33 percent of its current holdings in the display maker, with Samsung Display buying the shares as treasury stock.
Samsung SDI currently holds 39.86 million shares in Samsung Display, a display-making affiliate of Samsung Electronics. Following the transaction scheduled for Thursday, Samsung SDI’s ownership in Samsung Display will fall from 15.2 percent to 10.2 percent.
The final number of shares and value could change during the repurchasing process, the company said.
The battery maker said proceeds from the sale will be used to finance investments aimed at securing future growth engines.
The move comes as Samsung SDI continues to invest heavily in next-generation battery technologies and manufacturing capacity amid intensifying competition in the global battery industry.
The company did not provide further details on the specific projects that will be financed with proceeds from the transaction, but industry observers say the cash could be directed first toward Synergy Cells, its battery plant under construction in New Carlisle, Indiana.
Synergy Cells was established in 2024 as a joint venture between Samsung SDI and General Motors. Samsung SDI recently agreed to take over GM’s entire stake in the JV, giving the Korean battery maker full control of the operation.
The battery maker plans to use the Indiana plant to address a broader range of demand, including energy storage systems and electric vehicle batteries.
