Shares in Hynix Semiconductor, the South Korean chipmaker, fell on Tuesday after Korea Exchange Bank admitted that creditors might be forced to divest part of their stake in a block sale on the stock market. The move comes after Hyosung, the fibre and chemicals conglomerate, last week withdrew its offer for the combined 28% stake, worth about $3bn, owned by creditors. Creditors plan to start the procedure for another auction this month but will push for a block sale if no buyer appears.

This entry was posted by Gwen Robinson on Wednesday, November 18th, 2009 at 4:38 and is filed under Capital markets, M&A. Tagged with Hynix, Hyosung, KEB. Edit this entry.