Korea Finance Corporation is unlikely to sell its stake in Hynix Semiconductor through a planned block sale, reported Asia Economy.
The report, which cited industry sources, claimed that the South Korean state-run firm decided not to offload its 1.38% holding via the sale.
As a result, only a 6.58% stake in Hynix would be sold through the block deal, expected to take place in the first half of 2010.
Creditors of the listed South Korean semiconductor maker, including, Korea Finance, were reported to be planning the block sale after they failed to find a buyer.
See previous post ‘Hynix Update: Creditors’ reveal stake sale plan for this year‘ for more information on the Hynix sale.
(Source: Asia Economy)
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