Samsung SDI Co. stated Wednesday it plans to take more than its battery-creating joint venture with Germany's Robert Bosch GmbH as it seeks to increase its competitiveness in the production of lithium-ion batteries for automobiles.
South Korea's Samsung SDI stated in a regulatory filing it would pay Bosch $ 95 million for the 50% stake in the venture, SB LiMotive, that it doesn't already own.
But the net payment will be $ 57 million as Bosch plans to acquire SB LiMotive's U.S. and German
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