The CEO of South Korean chipmaker SK Hynix stated on Monday that its largest shareholder, SK Square, is contemplating merger and acquisition offers involving chip firms.
“We’re contemplating funding in firms starting from these which are large in scale to people who are small,” Co-CEO of SK Hynix Park Jung-ho, who can also be CEO of SK Sq., stated on the latter’s annual shareholders assembly.
SK Sq., which owns 20.1% of SK Hynix, plans to safe 2 trillion gained ($1.63 billion) or extra of its personal for investments over the following three years, in addition to set up a joint funding base with home and international traders, to speculate intensively in areas resembling chips and blockchain.
SK Sq. executives have been concerned in SK Group‘s large-scale chip M&As previously decade such because the acquisition of SK Hynix in 2012, SK Hynix investing 395 billion yen ($3.21 billion) in a stake in Kioxia in 2017, and SK Hynix signing the $9 billion acquisition of Intel’s NAND enterprise in 2020, SK Sq. stated in a press release.
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