Micron to shed stake in Numonyx- Hynix JV

SAN FRANCISCO: Memory chip vendor Micron Technology Inc. intends to sell its minority stake in a joint venture between Numonyx Holdings B.V and Hynix.

The company will sell the stake that it acquired in May - $1.27 billion in stock — to Hynix, said the company in a regulatory filing.

Sources at Micron say that it is expected that Hynix — a South Korean company, will pay approximately $422.89 million for the 19.3 percent stake in the China-based joint venture, Hynix-Numonyx Semiconductor Ltd.; and that the transfer of ownership stake is subject to the approval of the Chinese government.