Arab Today, arab today hynix creditors to extend final bidding
Last Updated : GMT 03:45:00
Arab Today, arab today
Arab Today, arab today

Hynix creditors to extend final bidding

Arab Today, arab today

Arab Today, arab today Hynix creditors to extend final bidding

Seoul - Yonhap

Creditors of Hynix Semiconductor Inc. said Tuesday that they will postpone the deadline for the final bidding for a 15 percent stake in the chipmaker by one week. Creditors-turned-shareholders of Hynix said the final bidding will be extended to Nov. 10, in an attempt to lure more bidders to join the takeover process of the world\'s No. 2 memory chipmaker. The move came as shipbuilding giant STX Group\'s departure from the bidding process left top mobile carrier SK Telecom as the sole bidder for the stake, estimated at around 1.5 trillion won (US$1.3 billion). Korea Exchange Bank, which leads the creditors, said in a statement that they plan to wrap up the sale by January next year. To dismiss speculation that SK Telecom will easily take over the chipmaker, they opened door for new prospective buyers to join the final bidding in late September. New shares will be issued in a move to help the chipmaker bolster its financial strength and ease the burden of additional capital investment for the new owner. A potential buyer eventually will hold a 20 percent stake in the chipmaker, which includes 14 percent in new shares to be issued. The remainder will be sold by the creditors. The creditors\' previous attempts to sell off the stake hit snags as volatile business conditions for the chipmaking sector and huge investments made potential investors wary of buying the company. The creditors pumped $4.6 billion into Hynix through debt-equity swaps in 2001 and 2002 to keep it afloat.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today hynix creditors to extend final bidding Arab Today, arab today hynix creditors to extend final bidding

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today hynix creditors to extend final bidding Arab Today, arab today hynix creditors to extend final bidding

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday