MagnaChip sells foundry business and plant for $435 million

MagnaChip Semiconductor Corp. signed a deal to sell its foundry business and a plant in Cheongju, South Korea, for $435 million to a special purpose company set up by Alchemist Capital Partners Korea and Credian Partners, with SK hynix owning 49.8%.

“We have decided to sell the foundry business to a company able to realize economies of scale in order to focus on the display and electricity solutions businesses.”en.yna.co.kr

• 1 source
• en.yna.co.krMagnaChip inks deal to sell foundry biz, plant | Yonhap News AgencyMar 31, 2020

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