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Samsung SDI ends electric battery venture with Bosch
September 5, 2012 / 9:15 AM / in 5 years

Samsung SDI ends electric battery venture with Bosch

SEOUL, Sept 5 (Reuters) - South Korean rechargeable battery maker, Samsung SDI Co Ltd, said on Wednesday it would pay $95 million to buy its German partner’s 50 percent stake in electric battery maker SB LiMotive Co Ltd, ending a joint venture formed in 2008.

Samsung and German industrial group Robert Bosch GmbH are dissolving their partnership due to a disagreement over future strategy.

Samsung said buying full control will allow it to make faster strategic decisions and generate synergies with its rechargeable battery business.

Reporting by Miyoung Kim; Editing by Matt Driskill

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