Amkor to Sell Partial Stake in Anam Semiconductor

July 09, 2002 by Jeff Shepard

Amkor Technology Inc. (Chandler, AZ) announced that it has signed a purchase agreement with Dongbu Group under which Dongbu would purchase from Amkor 20 million shares of common stock of Anam Semiconductor Inc. The transaction should be finalized within the next 60 days and is subject to completion of certain closing conditions.

Upon completion of the transaction, Amkor intends to repay the entire $97.0 million term loan under its secured bank credit agreement. The $100.0 million revolver will remain in place.