Mergers and Acquistions News
Categories: Semi-Conductors
December 2nd 2008, 16:12PM
Numunyx has delayed increasing its holding in a joint venture between it and Chinese firm Hynix Semiconductor, it has been revealed.
Formed earlier this year by STMicroelectronics, Intel and Francisco Partners, the company was set to purchase $50 million (£33 million) worth of shares in the Hynix-Numonyx Semiconductor venture, a move which would have brought its total holding up to $100 million, Reuters reports.
However, in a filing with the Korea Exchange, Hynix revealed that the deal will now not go ahead until the end of 2009, a delay requested by Numonyx.
Once the transaction is completed, the firm will own 23.3 per cent of the Chinese chip plant in Wuxi.
Meanwhile, Park Hyun, spokes person for Hynix, revealed that the firm is looking at the possibility of taking out a short-term loan to help it navigate the current financial downturn.
Mr Park told the news provider that the option will be discussed with the company's controlling shareholders.
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