thebell

전체기사

Magnachip Semiconductor prepares to restart sale process Potential buyers include South Korean industry players and private equity firms

Translated by Ryu Ho-joung 공개 2022-01-12 08:14:08

이 기사는 2022년 01월 12일 08:06 thebell 에 표출된 기사입니다.

Magnachip Semiconductor is exploring a new sale process, with South Korean industry players and private equity firms in the pool of potential buyers.

JP Morgan, which is advising the chipmaker on the sale, has reached out to prospective buyers to gauge interest, according to industry sources.

The investment bank is expected to send out a teaser to the pool of potential buyers once the company’s 2021 financial results become available.

The move comes after Magnachip’s first attempt to sell itself late last year. Chinese buyout firm Wise Road Capital had agreed to buy the South Korea-headquartered company for $1.4 billion, but the planned acquisition was canceled after the US government blocked the deal.

Potential buyers who previously expressed interest have started to look into the company again. In the pool of potential buyers are South Korean industry players such as Samsung Electronics, SK Hynix and LX Group, as well as large private equity firms.

Magnachip, which consists of display and power businesses after offloading its foundry services in 2020, is said to have not ruled out selling the company in parts. The company is estimated to be worth more than 1 trillion won ($837 million) as a whole.

In the market for organic light-emitting diode display driver integrated circuits, Magnachip holds the second largest share globally after Samsung Electronics and is the No. 1 non-captive supplier.

Magnachip was founded in 2004 after SK Hynix, then known as Hynix Semiconductor, offloaded its non-memory semiconductor business to a foreign private equity firm. It is currently owned by US-based Oaktree Capital Management and other investment firms.

The company went public on the New York Stock Exchange in 2011. In 2020, it generated $33 million in operating profit and $52 million in earnings before interest, taxes, depreciation and amortization on revenue of $507 million, excluding the foundry business which was sold in that year. (Reporting by Hyo-jung Lim)
< 저작권자 ⓒ 자본시장 미디어 'thebell', 무단 전재 및 재배포 금지 >
주)더벨 주소서울시 종로구 청계천로 41 영풍빌딩 5층, 6층대표/발행인성화용 편집인이진우 등록번호서울아00483
등록년월일2007.12.27 / 제호 : 더벨(thebell) 발행년월일2007.12.30청소년보호관리책임자김용관
문의TEL : 02-724-4100 / FAX : 02-724-4109서비스 문의 및 PC 초기화TEL : 02-724-4102기술 및 장애문의TEL : 02-724-4159

더벨의 모든 기사(콘텐트)는 저작권법의 보호를 받으며, 무단 전재 및 복사와 배포 등을 금지합니다.

copyright ⓒ thebell all rights reserved.