Citigroup, Hynix said negotiating
Hynix Semiconductor is conducting talks with Citigroup of the United States to sell its non-memory chip business for around $500 million, industry sources said yesterday. Citigroup submitted a letter of intent to invest in Hynix at the end of last year. But the two are at odds over price; Hynix wants $600 million based on its own appraisal, but Citigroup is offering $400 million. Hynix’s non-memory division consists of four production lines in Gumi, North Gyeongsang province, and Cheongju, North Chungcheong province. The company generated 260 billion won ($220 million) in revenue from the division last year. by Cho Min-geun
with the Korea JoongAng Daily
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