STX Group and Abu Dhabi’s state-owned fund Aabar may tie up to bid for a 15% stake in memory-chip maker Hynix Semiconductor, The Wall Street Journal reports. The stake-on-sale of Hynix is valued at $1.4 billion.
The South Korean shipping-to-shipbuilding conglomerate will also form a consortium with a Middle Eastern wealth fund to finance the deal. Creditors of Hynix, headed by Korea Exchange Bank, are seeking to sell the combined 15% stake they bought in 2001.
Click here for the story from The Wall Street Journal.
