The company had announced on the 9th that its board of directors approved a proposal to take over the German technology venture. Under terms of the deal, Cheil Industries will take a 50.1-percent stake, while Samsung Electronics and Samsung Venture Investment Corp. owning a 40- and 9.9-percent stake in Novaled, respectively.

 

Choi Ji-soo, analyst with Kyobo Securities, said, "The takeover of Novaled signals an important change that can bring up the AMOLED technology level of Samsung Electronics and dissipate market fears about Cheil Industries. On the back of Novaled's rich patent portfolio and technology excellence, Cheil Industries will be able to transform itself into a leading AMOLED materials producer from the status of a follower."