Creditors may consider block sale of Hynix: state agency

Hynix-stake sale


SEOUL, Jan. 28 (Yonhap) -- Creditors of Hynix Semiconductor Inc. could consider a
block sale if their attempt to sell the world's second-largest memory chipmaker
hits a snag, the head of South Korea's state-run policy lender said Thursday.

The creditors put their 28 percent stake up for sale this month for the second
time after a previous attempt to sell the stake fell through. Hyosung Group, the
sole bidder for Hynix, dropped its bid in November 2009.
"There have been no bidders that have expressed an intent to buy Hynix ahead of
the Jan. 29 deadline... If the attempt to sell the chipmaker fails, creditors
plan to consider various options including a block trade," Ryu Jae-han, president
of Korea Finance Corp., told a press conference.
The creditors, led by Korea Exchange Bank, injected US$4.6 billion to bail out
the chipmaker in the early part of the last decade. Korea Finance holds a 6.2
percent interest in Hynix Semiconductor.
Shares of Hynix were trading at 23,700 won ($20.50) on the main bourse, up 1.94
percent from the previous session as of 9:35 a.m.
sooyeon@yna.co.kr
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