Samsung SDI to sell Samsung Display stake for $3.2 bil. to fund investments

Samsung SDI, the battery-making arm of Samsung Group, said Friday it will sell part of its stake in Samsung Display to raise funds for future growth investments. Samsung SDI said in a regulatory filing that it will transfer 13.088 million shares in Samsung Display to the display maker, representing about 33 percent of its holdings. The shares are valued at about 4.45 trillion won ($3.2 billion). Once the transaction is completed, Samsung SDI's stake in Samsung Display will fall to 10.2 percent from 15.2 percent. Samsung SDI did not disclose specific plans for using the proceeds, but the funds are expected to be used for facility investments, including its battery plant under construction in New Carlisle, Indiana. The stake sale is seen as reaffirming Samsung SDI's commitment to expanding investments to build a foundation for medium- to long-term growth as the company works to improve its earnings. Demand for energy storage systems and uninterruptible power supply systems has been growing rapidly, driven by the expansion of artificial intelligence data centers. Samsung SDI has also been ma