TCL Electronics Places Cap on Sony's Put Option in Bravia JV

MT Newswires Live05-12

TCL Electronics (HKG:1070) placed a cap on the potential payout to Sony (TYO:6758) if the Japanese appliance giant decides to exit the Bravia joint venture, according to a Monday filing with the Hong Kong bourse.

TCL's shares fell over 1%, while Sony's shares rose almost 3% in morning trade on Tuesday.

The firm said it amended its previously announced JV agreement to cap Sony's put option to up to HK$4.9 billion.

TCL Electronics recently announced it would purchase a majority stake in Sony's home entertainment operations for 75.4 billion yen. The purchase entails the creation of a new joint venture called Bravia Inc., in which TCL will hold 51% and Sony the remaining 49%.

The TCL-Sony joint venture will start operations in April 2027.

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