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Cheil Industries to acquire OLED technology firm Novaled

6:19 AM MDT | August 10, 2013 | Natasha Alperowicz

Cheil Industries (Seoul), a leading electronic materials company in the display industry, said on Friday that it will acquire a majority stake in Novaled (Dresden), a provider of organic light-emitting diode technologies and materials, in a transaction valuing Novaled at €260 million ($346.9 million). Cheil Industries, a member of the Samsung group, signed a binding agreement to acquire approximately 50% in Novaled and Samsung Electronics will acquire approximately 40%. The remaining 10% stake in Novaled is currently held by Samsung Venture Investment, which...

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