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Samsung Nears Purchase of Germany OLED Company Novaled

Samsung Group is nearing an agreement to acquire Novaled AG, a German maker of materials used to light up smartphone and television screens, two people with knowledge of the matter said.

“We are internally reviewing plans to acquire Novaled, but no details have been set yet,” said Lee Tae Hun, a spokesman for Cheil Industries Inc., the chemical and electronic materials unit of South Korea’s largest conglomerate, in a telephone interview.