SK Hynix Receives Approval to Acquire Intel NAND Business in Brazil

[Image source=Yonhap News]

[Asia Economy Reporter Jeong Hyunjin] Brazilian regulatory authorities have approved SK Hynix's acquisition of Intel's NAND flash business unit.

According to foreign media and industry sources on the 25th, Brazil's National Competition Regulatory Authority (CADE) announced the previous day (local time) that it unconditionally approved SK Hynix's acquisition of Intel's NAND business. CADE determined that SK Hynix's acquisition does not harm market competition principles.

SK Hynix signed a contract last October to acquire Intel's NAND flash memory and SSD business division (Dalian factory in China) for about 10 trillion won and reported the corporate merger in January.

For the corporate merger of SK Hynix and Intel's NAND business unit, approval must be obtained from all eight relevant countries. So far, approvals have been granted in South Korea, the United States, Europe, Taiwan, and Brazil. The remaining countries are China, the United Kingdom, and Singapore.

SK Hynix stated, "We welcome the approval from Brazilian authorities" and added, "We will strive for smooth approval from the remaining major regulatory authorities."

This content was produced with the assistance of AI translation services.