Belt Auction

Creditors Spur Sales of Hynix Semiconductor

Summary: Creditors have rolled up their sleeves for the sales of Hynix Semiconductor South Korea s second largest chipmaker According to the financial industry on Thursday creditors are to host an investment presentation for the merger and acquisition M A of the chipmaker at the Bankers Club on January 13 The presentation to be conducted by sales managers Credit Suisse Woori Investment Securities and Korea Development Bank targets potential strategic investors SI financial investors FI investment banks for purchasers as well as legal consulting firms and accounting companies that have shown interests in the acquisition of the chipmaker Major shareholders including Korea Exchange Bank and Korea Policy Banking Corporation also plan to attend the presentation to explain on the semiconductor market outlook and the current condition and prospect of the chipmaker Creditors have released a notice to domestic companies on December 20 2009 regarding selling a 28 07 percent stake at the chipmaker via open competitive bidding A letter of intention is scheduled to be received by January 29 Earlier in September 2009 creditors have conducted open bidding on the chipmaker but the acquisition had been nullified with a sole bidder of Hyosung dropping from a bid to take over the chipmaker In case there are no bidding candidates for the chipmaker sales this time as well creditors plan to seek other alternatives including a block sale on partial shares under the judgment that an M A would be difficult to proceed further Eun jung Kim edited by Soyoung Chung ⓒ Maeil Business Newspaper mk co kr All rights reserved Creditors have rolled up their sleeves for the sales of Hynix Semiconductor South Korea s second largest chipmaker According to the financial industry on Thursday creditors are to host an investment presentation for the merger and acquisition M A of the chipmaker at the Bankers Club on January 13 The presentation to be conducted by sales managers Credit Suisse Woori Investment Securities and Korea Development Bank targets potential strategic investors SI financial investors FI investment banks for purchasers as well as legal consulting firms and accounting companies that have shown interests in the acquisition of the chipmaker Major shareholders including Korea Exchange Bank and Korea Policy Banking Corporation also plan to attend the presentation to explain on the semiconductor market outlook and the current condition and prospect of the chipmaker Creditors have released a notice to domestic companies on December 20 2009 regarding selling a 28 07 percent stake at the chipmaker via open competitive bidding A letter of intention is scheduled to be received by January 29 Earlier in September 2009 creditors have conducted open bidding on the chipmaker but the acquisition had been nullified with a sole bidder of Hyosung dropping from a bid to take over the chipmaker In case there are no bidding candidates for the chipmaker sales this time as well creditors plan to seek other alternatives including a block sale on partial shares under the judgment that an M A would be difficult to proceed further Eun jung Kim edited by Soyoung Chung ⓒ Maeil Business Newspaper mk co kr All rights reserved

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