In this news, we discuss the SK Hynix to buy part of Intel’s business for about $9 billion.
SEOUL (Reuters) – SK Hynix 000660.KS said on Tuesday it would purchase Intel’s INTC.O solid-state drive (SSD) business, NAND memory chip and wafer business, as well as its factory of production in Dalian, China for around $ 9 billion in an all-cash transaction.
SK Hynix, the world’s second-largest memory chip maker, said $ 7 billion is expected to be paid by the first scheduled closing date in late 2021, while an additional $ 2 billion by the second date of closing scheduled for March 2025.
Reporting by Joyce Lee; Edited by Himani Sarkar
Original © Thomson Reuters