LG Display has terminated a deal to sell its automotive LCD module business in Nanjing, China, to Top Run Total Solution. The transaction, valued at RMB 491.5 million ($68.9 million), was called off after the two sides failed to reach a final agreement on the conditions needed to complete the deal.
LG Display had planned to outsource production after the transfer to improve operating efficiency and profitability. The closing date had already been pushed from July 30 to September 30. Top Run said the contract was terminated by mutual agreement, with no penalty fees or additional financial burden. [E-Daily, in Chinese]