HindustanTimes Sun,21 Sep 2014

Other Stories

Samsung Group unit Cheil Ind considering buying Novaled AG
April 02, 2013
First Published: 12:15 IST(2/4/2013)
Last Updated: 12:16 IST(2/4/2013)

Cheil Industries Inc, an electronic material, chemical and textile unit of the Samsung Group, said on Tuesday it is considering buying German high-tech lighting company Novaled AG.

South Korean newswire Money Today reported earlier on Tuesday the Dresden-based company was expected to fetch around 300 billion won ($270 million), citing an unnamed source attached to the deal.

Cheil's announcement came after South Korea's Doosan Co Ltd also said it was looking at acquiring the organic light-emitting diode (OLED) maker.

Novaled, which is already backed by Samsung Group's venture capital arm Samsung Venture Investment, filed for an initial public offering last year with U.S. regulators.

comment Note: By posting your comments here you agree to the terms and conditions of
blog comments powered by Disqus
Copyright © 2014 HT Media Limited. All Rights Reserved