SK Hynix CEO suggests top rated shareholder to safe $1.6 billion for M&A in chips, blockchain

The CEO of South Korean chipmaker SK Hynix explained on Monday that its greatest shareholder, SK Square, is contemplating merger and acquisition offers involving chip companies.

“We are thinking about expense in firms ranging from individuals that are big in scale to people that are smaller,” Co-CEO of SK Hynix Park Jung-ho, who is also CEO of SK Square, claimed at the latter’s annual shareholders assembly.

SK Square, which owns 20.1% of SK Hynix, programs to protected 2 trillion received ($1.63 billion) or much more of its individual for investments about the subsequent a few a long time, as well as set up a joint expenditure foundation with domestic and international buyers, to devote intensively in spots this sort of as chips and blockchain.

SK Sq. executives have been associated in SK Team‘s massive-scale chip M&As in the previous 10 years this sort of as 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 small business in 2020, SK Square stated in a assertion.


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