LG Display draws interest in China plant sale - newspaper

LG DISPLAY

20/02/2024 10:56

SEOUL, Feb 20 (Reuters) - Around four parties have shown
interest in buying South Korean display panel maker LG Display's
 034220.KS  Guangzhou, China plant including Chinese rivals BOE
and CSOT, a South Korean newspaper reported on Tuesday. 
    LG Display has received letters of intent (LOI) for the sale
of the liquid crystal display (LCD) plant from four to five
parties, including BOE Technology Group  000725.SZ , TCL's
 000100.SZ  LCD unit CSOT as well as financial investors,
newspaper Korea Economic Daily reported, citing unnamed
investment banking sources. 
    The sale price is expected to be around 1.5 trillion won
($1.12 billion) or higher, and LG Display is expected to select
a bidder during the first half of this year at the earliest, the
newspaper reported. 
    LG Display declined comment. BOE and CSOT did not have an
immediate comment. 
    Analysts have said LG Display is planning to sell the plant
as part of its efforts to taper off its lower-margin and
high-competition LCD business, and focus on growing its
small-to-midsized organic light-emitting diode (OLED) panel
business. 

($1 = 1,334.4800 won)

 (Reporting by Joyce Lee; Additional reporting by Yelin Mo;
editing by David Evans)
 ((joyce.lee@tr.com;))