Samsung SDI Co., the world’s top maker of TV displays and smartphone batteries, said Monday it will merge with Cheil Industries Co., another Samsung affiliate that produces electronic and chemical materials, a move seen as part of generational ownership transfer within Samsung Group and efforts to bolster corporate restructuring.
The merged entity will be launched on July 1, the company said in a regulatory filing, adding that shareholders of Cheil will get 0.44 SDI share for every Cheil share they own.
The deal is slated to be approved at the shareholders’ meeting on May 30, the company said. Samsung SDI plans to keep its corporate name after the merger.
