Hynix Semiconductor will sell part of its stake in a Chinese joint venture to partner Numonyx for $100 million, as Numonyx seeks to raise its control over the Hynix-led chip plant.
After the sale, Hynix will see its stake in the Wuxi plant, which produces dynamic random access memory (DRAM) chips used in personal computers, cut to 72.3% from the current 83.3%.
Numonyx, a memory joint venture owned by STMicroelectronics, Intel and Francisco Partners, has said it planned to increase its stake in the joint venture to one third.
It is also working with Hynix in a five-year tie-up to develop NAND flash memory chips, used in hand-held devices including cellphones, digital music players and cameras.
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