Wise Road buys South Korea’s Magnachip Semiconductor for $1.4b in take-private deal

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Photographer: Tomohiro Ohsumi/Bloomberg

A controlling stake in South Korea-based display and power chip maker Magnachip Semiconductor Corp was sold in a take-private, all-cash deal worth about $1.4 billion to Beijing-based Wise Road Capital and its partners, Magnachip said in a statement on Monday.

The transaction is expected to close during the second half of 2021, subject to customary closing conditions, including the receipt of shareholder and regulatory approvals.

Reuters

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