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Skadden Advises Cheil And Samsung On Novaled Acquisition.

12 August, 2013

 

Skadden is advising Cheil Industries and Samsung Electronics, which announced today that they will acquire a majority stake in Novaled AG, a world-class provider in OLED technologies and materials, in a transaction valuing Novaled at €260 million. Cheil Industries will acquire a stake of approximately 50% in Novaled, and Samsung Electronics is going to acquire approximately 40%. The remaining stake of approximately 10% in Novaled is currently held by Samsung Venture Investment Corporation which will maintain its current shareholding. Novaled’s selling shareholders are a group of financial investors and individuals, including eCAPITAL entrepreneurial Partners AG, Zweite TechnoStart Ventures Fonds GmbH & Co. KG, Omnes Capital, TechFund Europe Management S.A.S., Fraunhofer Gesellschaft and KfW, amongst others. 
 
The Skadden team includes mergers and acquisitions partners Matthias Horbach (Frankfurt) and Young Shin (New York), counsel Holger Hofmeister and European counsel Jörg Herwig; tax partner Johannes Frey; antitrust counsel Horst Henschen (Frankfurt) and Giorgio Motta (Brussels); employment counsel Ulrich Ziegler (Frankfurt) and corporate transactions associates Martin Prokoph (Frankfurt), Jörg Neubauer (Frankfurt), Michael Steiner (Frankfurt).
 
Sullivan & Cromwell acted for the sellers, led by Germany M&A partner York Schnorbus.
 
The transaction is still subject to approval. 

 

 

For more information, please contact:

 

Andrew Towler, Skadden

andrew.towler@skadden.com

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