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HannStar Announces Strategic Alliance with LG.Philips LCD

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HannStar Display today announced that the company's board of directors has approved an alliance with Korea-based LG.Philips LCD (LPL) by issuing 180 million preferred shares to be sold to LPL. The transaction will be completed before the end of February 2008. The total amount of the investment will be NT$3.17 billion (US$429 million). HannStar said the broad of directors it has approved the issue of 800 million preferred shares to repay bank loans and enrol a strategic alliance partner.

Source: DigiTimes