Hyundai-LG Semi deal on
And Hyundai to restructure tomorrow
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Friday's edition of English language newspaper The Korea Herald said that Hyundai and LG are close to agreeing their long awaited merger. The newspaper quotes the government regulator of the deal as saying Hyundai will pay $2.15 billion for LG Semicon. for a 60 per cent stake in the company. And, as a precursor to the deal, Hyundai will tomorrow say it will sell 20 of its affiliates, the Herald said. If the report is true, and both parties are denying it, it could well have an effect on workers at LG Semicon's fab in Wales. ®
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