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Chronology of major events concerning Hynix sale

SEOUL, Sep 23, 2009 (Asia Pulse Data Source via COMTEX) --

Companies: Hynix Semiconductor Inc. (HXSEY),

The following is a chronology of major events related to the sale of Hynix Semiconductor Inc., the world's second-largest memory chipmaker.

October 1999 - Hyundai Electronics Industries Co., Ltd. merges with LG Semiconductor Co., Ltd.

December 2000 - Hyundai Electronics suffers a liquidity crisis.

March 2001 - Hyundai Electronics is renamed Hynix Semiconductor Inc.

October 2001 - Creditors decide to co-mange Hynix and carry out the first debt restructuring.

December 2001 - Hynix signs a deal with creditors on a normalization plan.

December 2002 - Creditors conduct the second debt restructuring.

October 2004 - Hynix completes the sale of its non-memory business.

July 2005 - Creditors decide to end their joint management of Hynix ahead of schedule.

September 2008 - Creditors agree to sell a controlling stake in Hynix.

November 2008 - Creditors hire companies to manage Hynix sale.

December 2008 - Creditors finalize a plan to provide Hynix with liquidity.

April 2009 - Creditors come up with an additional liquidity injection program.

Sept. 22, 2009 - Lead managers receive a bid from Hyosung Group, a South Korean conglomerate.

Copyright (C) 2009 Asia Pulse Data Source. All rights reserved

News Provided by COMTEX

Companies: Hynix Semiconductor Inc. (HXSEY),


Related terms: business, conglomerate, debt, electronics, restructuring, schedule, semiconductors, south korea

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