Samsung Electronics Co. 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 percent holding in Rambus and the 0.7 percent 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 1 trillion won ($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 606 million euros ($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.