이 누리집은 대한민국 공식 전자정부 누리집입니다.
Biz News Korea(Eng)
SK Group to buy controlling stake in silicon wafer manufacturer LG Siltron
- Collected
- 2017.01.24
- Distributed
- 2017.01.25
- Source
- Go Direct
LG Corp. which is the holding company for Korea’s fourth largest conglomerate LG Group in a board meeting approved the plan to hand over its entire stake in LG Siltron plus management right to SK Holdings for 620 billion won ($533 million) on Monday.
LG Siltron manufactures silicon wafers that are essential in chipmaking and supplies to the world’s two largest chipmakers Samsung Electronics and SK Hynix. The company recorded 621.2 billion won in sales and 20.3 billion won in operating profit in the third quarter last year.
LG Group plans to use the proceeds to make mergers and acquisitions that could help its future growth amid weak performance of its technology unit LG Electronics. The group has shed a unit for the first time since it sold LG Card in 2003.
“The move is unusual as LG has sufficient cash reserves and isn’t having any liquidity trouble,” one industry watcher said.
With the acquisition of LG Siltron, SK Group is expected to solidify its semiconductor unit following its acquisition of Hynix in 2011. The third largest conglomerate in 2015 bought OCI Materials, the world’s largest supplier of special gas that goes in chipmaking.
At 11:28 a.m., shares of SK Holdings rose 1.89 percent or 4,000 won to 216,000 in Seoul trading Tuesday.
By Kang Doo-soon and Han Woo-ram
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]