SK Hynix board approves plan to invest in Toshiba chip unit

Reuters News
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Posted: Sep 27, 2017 3:36 AM

SEOUL (Reuters) - South Korea's SK Hynix Inc said its board had approved its participation in a consortium led by Bain Capital that plans to purchase Toshiba Corp's memory chip unit for 2 trillion yen ($17.7 billion).

SK Hynix said in a statement it will invest 395 billion yen.

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(Reporting by Joyce Lee; Editing by Edwina Gibbs)