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.