SK to buy 21% in Hynix for KRW 3.4 trillion

News General Global 15 NOV 2011
SK to buy 21% in Hynix for KRW 3.4 trillion
SK Telecom has been selected as the preferred bidder to take control of Hynix Semiconductor. The company will pay KRW 3.43 trillion for a 21.05 percent stake in Hynix. The takeover is expected to close by February. Hynix is being sold by its creditors, which bailed out the memory chipmaker in 2001. SK did not say what it's plans are for the company. Hynix recorded a net profit of KRW 2.65 trillion in 2010, on revenues of KRW 11.97 trillion.

Categories:

General

Companies:

Hynix Semiconductor,  SK Telecom

Regions:

Global

Countries:

Korea, Republic of

Tags:

Components, Wholesale, M&A buyouts & divestments

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