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Monday, October 16, 2017
Memory Industry News
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For SK Hynix to invest $3.5 billion in Toshiba fab

Thursday, September 28, 2017

South Korean chipmaker SK Hynix Inc. said Wednesday that it will invest 395 billion yen ($3.5 billion) toward the purchase of Toshiba Corp.'s memory chip unit by a group of investors.

The board at South Korea's No. 2 semiconductor company approved the decision, which will help the South Korean chipmaker advance in a segment known as NAND flash memory chips.

SK Hynix is part of a group led by Bain Capital Private Equity that includes several Japanese and U.S. companies such as Apple, Dell, Kingston Technology and Seagate Technology.

SK Hynix disclosed other details about the deal, including how the U.S.-Japan-South Korea consortium will split the stake. It said SK Hynix and Bain Capital will control a combined 49.9 percent stake in Toshiba's memory chip unit. Toshiba will control 40.2 percent and Hoya Corp., a Japanese company, 9.9 percent.

The South Korean company plans to finance part of its investment via convertible bonds worth 129 billion yen, which could later be converted into common shares and give SK Hynix up to a 15 percent stake in Toshiba's memory chip unit.

By: DocMemory
Copyright 2017 CST, Inc. All Rights Reserved

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