SK Hynix Inc.’s Board approved a plan to invest in Toshiba Memory Corp

SK Hynix Inc. (or the Company, www.skhynix.com) announced its board of directors yesterday approved its plan to participate in a Bain Capital-led consortium that plans to purchase Toshiba Corporation’s memory chip unit, Toshiba Memory Corporation (or “TMC). The Company will invest 395 billion yen (4 trillion won) in the consortium’s estimated 2 trillion yen of total investment.

SK Hynix is a part of a group of investors led by Bain Capital Private Equity that includes several Japanese and a number of U.S. companies. The Bain-led consortium will hold 49.9 percent stake in TMC, while Toshiba will hold 40.2 percent and Japan’s Hoya Corp. will own 9.9 percent.

SK Hynix plans to finance 129 of its total 395 billion yen via convertible bonds that could allow it to take an equity stake of up to 15 percent in the future. The remaining 266 billion yen is to put in a fund established by Bain Capital as a limited partner, which would help the Company enjoy capital gains when the TMC is listed.

The Bain-led consortium including SK Hynix will make its best endeavors to finalize the deal by March 2018.

POST A COMMENT

Easily post a comment below using your Linkedin, Twitter, Google or Facebook account. Comments won't automatically be posted to your social media accounts unless you select to share.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

NEW PRODUCTS

Leak check semiconductor process chambers quickly and reliably
02/08/2018INFICON,a manufacturer of leak test equipment, introduced the UL3000 Fab leak detector for semiconductor manufacturing maintenance teams t...
Radiant Vision Systems announces new automated visual inspection system
11/06/2017Radiant Vision Systems, a provider of high-resolution imaging solutions for automated visual analysis of devices and surfaces, an...
SEMI-GAS Xturion Blixer enables on-site blending of forming gas mixtures
10/03/2017The Blixer provides a cost-effective alternative to purchasing expensive pre-mixed gas cylinders by enabling operators to blend ...