NEWS

Paul Hastings Advises Samsung Electronics on Sale of Fiber Optics Business to Corning

December 03, 2014

Seoul (December 3, 2014) - Paul Hastings, a leading global law firm, announced today that the firm represented Samsung Electronics Co., Ltd. (“Samsung Electronics”), a global leader in technology, in the sale of its fiber optics business to Corning Incorporated, the world leader in specialty glass and ceramics (“Corning”). The sale, expected to complete in early 2015, was structured as a business carve-out transaction and will include Samsung Electronics' production facilities for the business in China and South Korea.

Paul Hastings has advised Samsung Electronics and its subsidiaries on a number of significant transactions, including in 2013 advising Samsung Display, a subsidiary of Samsung Electronics, on the US$1.9 billion sale of its joint venture stake and its strategic investment in Corning.

Paul Hastings also represented Samsung Electronics in exiting another non-core business – the US$1.4 billion sale of its hard disk drive operations to Seagate Technologies in 2011, which marked the largest cross-border M&A transaction in Korea in 2011.

The Paul Hastings team was led by corporate partner Daniel Sae-Chin Kim, with support from of counsel Woojae Kim and associate Young Hwan Ryu.

Paul Hastings is a leading global law firm with a strong presence throughout Asia, Europe, Latin America, and the United States. Through a collaborative approach, entrepreneurial spirit, and commitment to client service, the professionals of Paul Hastings deliver innovative solutions to many of the world’s top financial institutions and Fortune 500 companies.