Seagate buys 9% shares from Samsung with 1.5 billion dollars

Phoenix Science and technology news Beijing time October 10, according to Bloomberg, Samsung Electronics agreed to sell 1.51 billion U.S. dollars to Seagate back to the latter's 9% stake. Samsung announced the sale in an e-mail statement, but did not offer a price per share. Seagate, on October 8, said it had redeemed 32.7 million shares from Samsung's holdings and did not disclose the price. In April 2011, Samsung agreed to sell its computer hard drive to Seagate in the form of 1.38 billion dollars in cash plus shares, and thus acquired 45.2 million shares of Seagate, accounting for 9.6% of Seagate's total shares. According to an agreement between the two sides, Samsung and Seagate will supply each other with electronic storage devices. Prior to this, Western data had agreed to acquire Hitachi hard drive business. Samsung has been making hard drives since 1989, part of the Samsung Semiconductor sector. Samsung is also the world's largest television and smart-machine manufacturer. (Compiling/Xiao Yu)