Philips Divests from LG Display

March 12, 2009
LG is world's second largest liquid crystal display maker

Philips has sold all its remaining shares in South Korea's LG Display, the Seoul company said on March 12.

Philips on March 11 disposed of its final 13.2% stake, said a spokesman for LG Display, the world's second largest liquid crystal display maker.

Philips and LG Electronics jointly set up a 50-50 joint venture, LG Philips LCD, in 1999. It was renamed LG Display in 2008.

The Dutch company had been cutting its stake in the joint venture since late 2005, a year after it was listed on the country's stock market.

LG Electronics is now the single largest shareholder with a 37.9% stake.

Shares of LG Display closed down 6.5% at 25,900 won on the Seoul stock exchange.

Copyright Agence France-Presse, 2009

About the Author

Agence France-Presse

Copyright Agence France-Presse, 2002-2017. AFP text, photos, graphics and logos shall not be reproduced, published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium. AFP shall not be held liable for any delays, inaccuracies, errors or omissions in any AFP content, or for any actions taken in consequence.

Sponsored Recommendations

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!