Toshiba to sell semiconductor to Korea-US-Japan Alliance…SK Hynix to limit stake for ten years
[ Park Seul Gee seul@ ] | 2017-09-29 10:33:40
The Korea-US Alliance consortium with SK Hynix finally acquired Toshiba memory (TMC), a subsidiary of Toshiba`s memory semiconductor company.
Toshiba Corporation today revealed that it has signed a tender agreement with the Korea-US-Japan Alliance Consortium.
TMC`s total takeover amount is JPY 2 trillion (about KRW 20 trillion). SK Hynix is worth JPY 395 billion (about KRW 4 trillion) among them, Toshiba JPY 3505 billion (about KRW 3.5 trillion), Bain Capital JPY 212 billion (about KRW 2.1 trillion) and Japanese equipment company Hoya JPY 27 billion US Apple, Kingston, Seagate and Dell will invest JPY 415.5 billion (about KRW 4.20 trillion). Pangea, an acquisition company created by the Korea-US Alliance Consortium, plans to raise JPY 600 billion through banks and lending institutions.
Meanwhile, SK Hynix and Bain Capital have 49.9%, 40.2% and 9.9% of voting rights in the consortium, Toshiba and Hoya, respectively. Apple, Kingston, Seagate and Dell are investing in the form of corporate bonds. Especially, SK Hynix has not held more than 15% stake in TMC`s voting rights over the next 10 years, and has been unable to access Toshiba`s memory confidential information for 10 years.
Toshiba stated, "Western Digital is in dispute with the International Court of Arbitration for dismissal of the sale of TMC, but it will be able to carry out the transfer of stock as long as the stock transfer contract is not prohibited." An official of SK Hynix said, "We will do our best to finalize the contract."
By Park Seul Gee seul@
[ copyright ⓒ The Digitaltimes ]
Toshiba Corporation today revealed that it has signed a tender agreement with the Korea-US-Japan Alliance Consortium.
TMC`s total takeover amount is JPY 2 trillion (about KRW 20 trillion). SK Hynix is worth JPY 395 billion (about KRW 4 trillion) among them, Toshiba JPY 3505 billion (about KRW 3.5 trillion), Bain Capital JPY 212 billion (about KRW 2.1 trillion) and Japanese equipment company Hoya JPY 27 billion US Apple, Kingston, Seagate and Dell will invest JPY 415.5 billion (about KRW 4.20 trillion). Pangea, an acquisition company created by the Korea-US Alliance Consortium, plans to raise JPY 600 billion through banks and lending institutions.
Meanwhile, SK Hynix and Bain Capital have 49.9%, 40.2% and 9.9% of voting rights in the consortium, Toshiba and Hoya, respectively. Apple, Kingston, Seagate and Dell are investing in the form of corporate bonds. Especially, SK Hynix has not held more than 15% stake in TMC`s voting rights over the next 10 years, and has been unable to access Toshiba`s memory confidential information for 10 years.
Toshiba stated, "Western Digital is in dispute with the International Court of Arbitration for dismissal of the sale of TMC, but it will be able to carry out the transfer of stock as long as the stock transfer contract is not prohibited." An official of SK Hynix said, "We will do our best to finalize the contract."
By Park Seul Gee seul@