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Business deals

Sharp regains ownership of key LCD plant for $300m

Stock swap dilutes Foxconn's stake in Sharp to less than 50%

Sharp had sold a majority stake in LCD panel maker Sakai Display Products to an asset manager under Foxconn founder Terry Gou. (Photo by Kento Awashima)

OSAKA -- Sharp has turned LCD factory operator Sakai Display Products into a wholly owned subsidiary for an estimated 40 billion yen ($296 million), Sharp announced Monday.

Sharp previously held a 20% stake in SDP, which produces large display panels for televisions in the city of Sakai, near Osaka. It acquired the rest from a Samoa-based investment company by handing over 11.45 Sharp shares for each SDP share it received.

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