Samsung Electronics to buy new BYD shares for $449 million - Korea Economic Daily

SEOUL (Reuters) - South Korean electronics giant Samsung Electronics Co Ltd <005930.KS> has agreed to buy new shares worth 3 billion yuan ($449.10 million) in Chinese automaker and electric vehicle battery maker BYD <1211.HK> <002594.SZ>, Korea Economic Daily reported on Friday.

With the investment, Samsung Electronics has secured a 4 percent stake in BYD, which is also backed by Warren Buffett's Berkshire Hathaway Inc , the newspaper said.

A Samsung Electronics representative declined to comment.

(Reporting by Hyunjoo Jin; Editing by Stephen Coates)