Following on from last month’s announcement, reported here ‘Hynix Semiconductor Lenders to Accept Bids for Stake by January‘.

Korea’s Maeil Newspaper today ran the following story -

Creditors Spur Sales of Hynix Semiconductor

Announcing that Hynix’s creditors are to host an investment presentation for the M&A of the chipmaker on January 13, with LOIs scheduled to be received by January 29.

The presentation to be conducted by sales managers – Credit Suisse, Woori Investment & Securities, and KDB – targets potential strategic investors, financial investors, IBs for purchasers as well as legal consulting firms and accounting companies.

In September 2009, creditors conducted open bidding on the chipmaker but the acquisition was nullified with the sole bidder, Hyosung, dropping its bid.

In case there are no bidding candidates for the chipmaker sale this time as well, creditors plan to seek other alternatives including a block sale on partial shares.

About Hynix Semiconductor

In 2008, Hynix Semiconductor (000660:KS) had sales of KRW 6.5 trillion, with an operating loss of KRW 2 trillion.

In the third quarter of 2009, the semiconductor maker posted an operating profit of KRW 165 billion, reversing seven consecutive quarterly losses.

Hynix Semiconductor is under the control of a Korea Exchange Bank-led creditor group, which holds a combined 28.1% stake in the company.

As of writing Hynix’s market cap. was  KRW 14.4 trillion.

(Sources: Maeil Business, Bloomberg, Hynix Website)