Hynix to Sell Stake to Partner HOT STOCKS

Hynix Semiconductor said it would sell part of its stake in a Chinese joint venture to its partner Numonyx for $100 million, as Numonyx seeks to raise its control over the Hynix-led chip plant.

After the sale, Hynix’s stake in the Wuxi plant, which produces dynamic random access memory, or Dram, chips used in personal computers, will be reduced to 72.3 percent from the current 83.3 percent.

Numonyx, a joint venture that is owned by STMicroelectronics, Intel and Francisco Partners, has announced that it plans to increase its stake in the joint venture to one third.

Originally published by Reuters.

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