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SK Hynix to buy part of Intel's business for about $9 bln

Credit: REUTERS/NATHAN FRANDINO

SK Hynix said on Tuesday it will buy Intel's solid state drive (SSD) business, NAND memory chip product and wafer business, as well as its production facility in Dalian, China for about $9 billion in an all-cash deal.

SEOUL, Oct 20 (Reuters) - SK Hynix 000660.KS said on Tuesday it will buy Intel's INTC.O solid state drive (SSD) business, NAND memory chip product and wafer business, as well as its production facility in Dalian, China for about $9 billion in an all-cash deal.

SK Hynix, the world's second-largest memory chip maker, said $7 billion is likely to be paid by the first closing date expected in late 2021, while another $2 billion by the second closing date expected in March 2025.

($1 = 1,139.7800 won)

(Reporting by Joyce Lee; Editing by Himani Sarkar)

((jungyoon.lee@tr.com; +82 2 6936 1467;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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