Samsung will buy shares of Corning

Early last year, Samsung and protected by glass manufacturer Corning announced the formation of a joint venture Samsung Corning Precision Materials (SCP). Now, less than two years from the date announced further closing companies. Through a series of transactions, Samsung will receive 7.4% of Corning. Currently, the share of Samsung accounted for 43% of SCP. These shares are purchased Corning for $ 1.9 billion, followed by Samsung for another $ 400 million gain control over 7,4% Corning. Minority interests SCP also be bought Corning. Currently, the companies have an agreement under which Samsung will acquire protection Corning glass for LCD screens up to 2023. Moreover, these glasses will be installed not only in devices of Samsung, but also supplied with panels from Samsung to other manufacturers. According to Corning, the deal with Samsung is extremely beneficial and earnings per share of the company in 2014 and 2015 due to rise by 20%.