Electronic materials company Cheil Industries (Uiwang / South Korea; www.samsungchemical.com), an affiliate of the Samsung Group, has acquired a majority stake in specialist OLED producer Novaled (Dresden / Germany; www.novaled.com) from a number of financial investors and individuals. The transaction values Novaled at EUR 260m, including EUR 30m contingent on reaching certain milestones. In 2012, the company reported revenues of EUR 26m.

Cheil has acquired approximately 50% of the company and Samsung Electronics will acquire around 40%, while the remaining stake of approximately 10% is held by Samsung Venture Investment, which will retain this shareholding.

Cheil Industries’ CEO, Jong-Woo Park, said: “Leadership in the future display market will be determined by technological capacity. This acquisition is expected to generate significant synergy in new-generation OLED materials R&D and will play a critical role in enhancing Cheil Industries’ market position as a global leader in electronic materials.”