Intel Gets $1.9 Billion After Closing Second Phase of NAND Memory Unit Sale to SK Hynix

MT Newswires Live03-28

Intel (INTC) received $1.9 billion from SK hynix after the US chipmaker completed the second phase of the agreement to sell its NAND memory unit in Dalian, China, to the South Korean company.

Intel transferred its NAND memory technology and manufacturing operations to SK hynix in the second phase of the transaction, which closed Thursday. The first phase involving the NAND facility and related solid-state drive business was completed on Dec. 29, 2021.

In a regulatory filing Friday, Intel said it has stopped making NAND wafers at the Dalian facility, concluding the sales agreement with SK hynix and affiliated entities established during the first phase of the transaction.

Intel shares fell 3.5% in recent Friday trading.

Price: 22.79, Change: -0.84, Percent Change: -3.54

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