STX May Pair With Mid East SWF For Hynix Bid

Marine-engine maker STX Group may partner with a Middle Eastern sovereign wealth fund to bid for a stake in Hynix Semiconductor.

Marine-engine maker STX Group may partner with a Middle Eastern sovereign wealth fund to bid for a stake in Hynix Semiconductor, Bloomberg reports. The name of the sovereign wealth fund has not been disclosed.

The 15% stake to be sold is estimated to be worth about $2.2 billion. The bid is expected to be offered before July 8, 2011.

Click here for the story from Bloomberg.

Click here for the additional coverage from Reuters.

Related