Eastman Kodak Co. (NYSE: EK) said Wednesday it had completed the previously announced sale of its organic light-emitting diode display (LED) business to South Korea's LG Electronics Inc., according to Associated Press.
The financial terms of the deal were no disclosed, but Eastman Kodak did indicate that the deal will help its finances and tighten its investment focus.
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The company earlier said it had signed a cross-licensing agreement with LG that will grant them access to one another's patents, yield Eastman additional royalty payments and settle litigation between them over intellectual property.
Eastman Kodak shares rose 3 cents to close at $4.34 on Wednesday.
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