CS, KDB-led consortium picked as co-lead managers for sale of Hynix Semiconductor

SEOUL, Nov. 24 (Yonhap) -- Creditors of Hynix Semiconductor Inc. said Monday that
Credit Suisse and a consortium led by state-run Korea Development Bank were
picked as co-lead managers for the sale of the world's second-largest computer
memory chip maker.
A group of nine creditors with a combined 36-percent stake in the chipmaker last
week approved the proposal by Hynix's main creditor, Korea Exchange Bank, to sell
their stake.
The creditors agreed in September to the sale of their shares in Hynix
Semiconductor, seven years after it was bailed out.
The sale of Hynix will depend on market and industry conditions, they said.
Hynix reported its fourth straight quarterly loss in the third quarter of the
year as weak chip prices and write-off costs sank its bottom line.
It logged a 1.65 trillion won (US$1.09 billion) net loss in the July-September
period, compared with a profit of 168 billion won a year earlier.
sam@yna.co.kr
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