News Article
Korea`s Dongbu Group Has Completed The Purchase Of 20mn Shares In Anam
Korea's Dongbu Group has completed the purchase of 20mn shares in Anam
Semiconductor (ASI) from Amkor Technology at a price of KRW5700/share, for a
total consideration of KRW114bn.
Dongbu has already paid KRW72bn worth $59mn. The remaining KRW42bn will be
payable in equal instalments under two promissory notes due September 2003
and February 2004. The notes will bear interest at 5% per annum and will be
secured by 10mn shares of ASI common stock.
Amkor says the proceeds of the transaction will not be used to repay bank
debt but will instead be retained for working capital purposes. The sale
reduces Amkor's ownership interest in ASI from 42% to 22%.
payable in equal instalments under two promissory notes due September 2003
and February 2004. The notes will bear interest at 5% per annum and will be
secured by 10mn shares of ASI common stock.
Amkor says the proceeds of the transaction will not be used to repay bank
debt but will instead be retained for working capital purposes. The sale
reduces Amkor's ownership interest in ASI from 42% to 22%.
