Thales announced it has exercised its put option in Hanwha Thales (HTC). The jointly-owned company Hanwha Thales was created in 2000 by Samsung and Thales.

In June 2015, Samsung sold its defence related businesses to Hanwha. In this context, Hanwha and Thales negotiated a put/call option on Thales’ shares in their jointly owned company.

Thales has decided to exercise its put option, for all of its shares, amounting to 50% of Hanwha Thales equity, at the price of KW288 billion.

Once governmental approvals are obtained and the sale is completed, Thales shall record a cash inflow of approximately EUR200 million. In 2015, Hanwha Thales contributed EUR10 million to the EBIT of Thales.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: