Paul Hastings Advises Samsung Fine Chemicals and Samsung Electronics in Connection with SunEdison Semiconductor's IPO
Seoul (March 25, 2014) - Paul Hastings, a leading global law firm, announced today that it is representing Samsung Fine Chemicals and Samsung Electronics in their respective investments in SunEdison Semiconductor’s initial public offering (Nasdaq: SEMI) through concurrent private placement transactions.
Under the agreements, Samsung Fine Chemicals will invest up to US$100 million in the private placement, and Samsung Electronics will exchange its 20% equity interest in a Korean joint venture with SunEdison, MEMC Korea Company, for approximately 6% of the outstanding shares of SunEdison Semiconductor. Subject to regulatory approvals, the private placement transactions are expected to close concurrently with the initial public offering.
In addition to the complex, multiple concurrent transactions that have been negotiated simultaneously with SunEdison Semiconductor’s IPO preparation process, Samsung Fine Chemicals will sell a 35% equity interest in SMP Ltd., a solar-grade polysilicon joint venture between SunEdison and Samsung Fine Chemicals.
Samsung Fine Chemicals is a Samsung Group company and a producer of specialty chemicals used for construction additives, pharmaceutical coating materials and raw material for semiconductor developer.
The Paul Hastings team was led by partner
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