Lee & Ko advised Cheil Industries (“Cheil”) and Samsung Electronics Co., Ltd. (“Samsung Electronics”) in their outbound acquisition of 90% ownership interest (approximately USD 350,000,000) in Novaled AG (“Novaled”), a leading company in the field of OLED technology in Germany. The transaction was successfully completed on August, 2013 and is expected to give a boost to Cheil as well as Samsung Electronics by strengthening its respective position in the display market.
In addition, it should be noted that prior to completing the above transaction, Lee & Ko acted as a key advisor to the Samsung Group in its decision to expand and globalize the display business through a successful spin-off of the LCD business of Samsung Electronics and Samsung Display and the subsequent merger of the spun-off businesses into Samsung Mobile Display in 2012.