Latham Advises LG Display on the Disposal of Its LCD Business in China to CSOT for RMB10.8 Billion

Latham & Watkins has advised LG Display on a series of transactions to dispose of its entire interest in LG Display (China) and LG Display (Guangzhou), which manufacture liquid crystal display (LCD) panels and modules in China, as it shifts its focus to organic light-emitting diode (OLED) technology.

This transformative transaction initially includes LG Display’s acquisition of a 10% stake in LG Display (China) from the HKEx-listed Skyworth. LG Display has now entered into definitive agreements with TCL China Star Optoelectronics Technology Co. (CSOT), subsidiary of TCL, to sell all of its interests in LG Display (China) and LG Display (Guangzhou) to CSOT for a base purchase price of RMB10.8 billion (subject to adjustment). Closing is expected to take place around end of Q1 2025.

The Latham team was led by Hong Kong corporate partners Steve Kang and Zhonghua (Stephen) Shi, with Seoul counsel Regina Kim and Hong Kong associate Heidi Lui, and Beijing Foreign Legal Consultant Yuxuan Chen. Advice was also provided on IP matters by Singapore counsel Esther Franks, with Seoul associate Alex Park; and on litigation matters by Hong Kong partner Dominic Geiser, with associate Charlotte Wong.