HP to purchase Samsung's share in JV

Article Abstract:

Hewlett-Packard Co. of Palo Alto, CA, will acquire Seoul, Korea-based Samsung Electronics Co.'s 45% share in their 13-year-old venture, Hewlett-Packard Korea. The company will pay $36 million for the stake. The company agreed to acquire Samsung's interest in the joint venture to boost its efforts in drawing foreign funds. Meanwhile, Samsung will use the proceeds from the sale to improve its financial structure and cash flow. Samsung Group has recently secured $2.5 billion in foreign funds as part of its restructuring program.

Comment:

Will become wholly owned by Hewlett-Packard

South Korea, Electronic Computer Manufacturing, Electrical & Electronic Equip, Electrical Equipment, Appliance, and Component Manufacturing, Computers & Auxiliary Equip, Hewlett-Packard Co., Samsung Electronics Company Ltd., Article, Hewlett-Packard Korea

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Harris to divest semiconductor business

Article Abstract:

Harris Corp of Melbourne, FL, has agreed to sell its semiconductor business to a unit of Sterling Holding Company LLC, a Citicorp Venture Capital Ltd investment portfolio firm. The transaction, which calls for Harris to retain a 10% holding in the business, will enable the company to concentrate exclusively on the global communications equipment market. The sale also calls for Harris to get ~$700 million in notes, cash, retained receivables and contingency payment.

Semiconductor Devices, Semiconductor and Related Device Manufacturing, Venture Capital Companies, Miscellaneous Intermediation, Harris Corp.

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