Asia Tech Wire (Sep 11) -- A Chinese consortium has agreed to acquire the polarizing film business of South Korea's Samsung SDI for $835 million.

Nuoyan Capital, Hengmei Optoelectronic and Samsung SDI formally agreed on the merger and acquisition of polarizing film assets on Tuesday, completing the signing.

According to public documents, the transaction amounted to about 1.121 trillion won ($835 million), and the scope of the sale includes Samsung SDI's polarizing film production and sales business in the South Korean regions of Cheongju and Suwon, as well as a 100% stake in Samsung SDI Wuxi Co.,Ltd.

Founded in 2016, Nuoyan Capital is a leading industrial investment firm in China, focusing on optoelectronic display, third-generation semiconductors, new energy and smart cars.

And in 2023, Nuoyan Capital led the acquisition of the polarizer upstream materials business of LGC in South Korea.

Founded in 2014, Hengmei Optoelectronic is a polarizer manufacturer, providing polarizer supply to panel makers in many countries and regions around the world.