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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

STX may team with Middle Eastern sovereign fund to bid for stake in Hynix

Posted on 07 July 2011

STX Group, owner of the world’s third-largest marine-engine maker, said it may team up with a Middle Eastern sovereign wealth fund to bid for a stake in Hynix Semiconductor Inc.
STX is “highly likely” to submit a bid before tomorrow’s deadline set by shareholders including Korea Exchange Bank, the group said in an e-mailed statement yesterday. It wouldn’t need to borrow to pay for a stake of about 15 percent, according to Vice Chairman Lee Jong Chul, who didn’t identify STX’s potential Mideast partner……………………………………….Full Article: Source


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