SK Hynix plans to sell a 50% stake in its China foundry to Wuxi Industry Development Group for $150.81m and intangible assets.
SK Hynix, a South Korean chipmaker, plans to sell a nearly 50% stake in its foundry unit in China to Chinese state-owned enterprise, Wuxi Industry Development Group Company. The deal includes a 21.3% stake sale for 205.4bn won ($150.81m) and the acquisition of intangible assets, such as process technology. The move is aimed at improving SK Hynix's business structure and seeking long-term growth opportunities.
May 08, 2024
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