In a situation where Toshiba is delaying the announcement of a prime negotiator which was expected to be made by early this week at the latest, Toshiba abruptly announced intention to sell even the management control of its semiconductor business.
If SK Hynix succeeds in acquiring the management control of the chip business from Toshiba which now ranks No. 2 in the global NAND flash market, it would greatly contribute to enhancing the competitiveness of SK Hynix in the area.
With this in mind, SK Hynix instantly launched the feasibility review of acquiring the stake. According to Japanese media, Toshiba delayed the disclosure of its financial statements and failed to meet the deadline set for the listed companies in Japan.
Instead, Toshiba released preliminary results only. The loss from its nuclear power plant business in the United States alone amounted to 712.5 billion yen (US$6.27 billion). Accordingly, Toshiba fell into the state of capital impairment as of the end of 2016 when its debts are 191.2 billion yen ($1.68 billion) higher than assets.
Singapore’s Ascendas-Singbridge Group closed the acquisition of a newly-built office building in Seoul for S$124.3 million ($92.3 million) this week, in what appears to be an opportunistic investment. Ascendas sees long-term potential in the 19,578-square-meter ICON Yeoksam tower, built in&hellip
The Military Mutual Aid Association, the Employment Insurance Fund and an unidentified South Korean institutional investor have committed a total of $110 million to LaSalle Investment Management’s 804 million-pound ($1 billion) debt fund focusing on the UK and western Europe.&hellip
Private equity firm KKR & Co. and the Public Officials Benefit Association (POBA) have put two commercial buildings in South Korea up for sale separately, in transactions expected to fetch a combined $1 billion and in what would be KKR’s&hellip