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Samsung says it sold stakes in ASML, Seagate, Rambus and Sharp

Sunday, September 18, 2016 - 16:28
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Samsung Electronics said on Sunday it sold stakes in ASML Holding NV, Seagate Technology Plc, Rambus Inc and Sharp Corp to free up money and focus on its main business.

[SEOUL] Samsung Electronics said on Sunday it sold stakes in ASML Holding NV, Seagate Technology Plc, Rambus Inc and Sharp Corp to free up money and focus on its main business.

Samsung disposed of half its shares in ASML and its entire 4.2 percent stake in Seagate Technology, the Suwon, South Korea- based electronics maker said in an e-mailed statement. It also sold its 4.5 per cent holding in Rambus and the 0.7 per cent of Sharp stock that it owned, according to the statement, which didn't provide further details.

The total value of the stakes sold was about about US$891 million, said a Samsung spokeswoman who asked not to be identified, in line with company policy.

Samsung sold 6.3 million shares in ASML valued at US$676 million, according to terms of the transaction obtained by Bloomberg News on Sept. 9.

The Korean maker of semiconductors, phones and televisions said in the statement that its business ties with all four companies are unaffected by the stake sales.

BLOOMBERGJ