SAN FRANCISOReports out of South Korea indicate that Korea Exchange Bank (KEB), the single largest shareholder of Hynix Semiconductor Inc., is pushing for the sale of the combined 36 percent stake that it holds with eight other companies in the chip maker.
According to a Reuters report, KEB has given the eight other stakeholders until Sept. 19 to decide on a plan outlining the sale of the combined stake, valued at 3 trillion won ($2.73 billion).
According to a report from news service Asia Pulse, KEB said it would move forward with the sale if more than 75 percent of the creditors approve the plan.
According to the reports, KEB owns about 8.2 percent of Hynix. Other shareholders include the Korea Development Bank, Woori Bank, Shinhan Bank and Kookmin Bank.