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Technology Stocks : Amkor Technology Inc (AMKR)
AMKR 30.19-3.9%Nov 20 3:59 PM EST
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To: tech101 who wrote (528)1/28/2000 12:58:00 PM
From: Jim Oravetz  Read Replies (2) of 1056
 
Korean Bks Reject Amkor Plan To Buy Anam Semicon Plants
SEOUL -- The South Korean creditor banks of troubled Anam Semiconductor Inc. (Q.ASD) rejected Friday an offer made by Amkor Technology Inc. (AMKR) of the U.S. to buy the company's three chip-packaging plants, Chohung Bank (Q.CHB) said.
Chohung Bank is Anam Semiconductor's key creditor bank.
The bank said Amkor had submitted its offer to buy the three plants at $800 million in October last year, below the $1.11 billion estimate made by the creditors' advisors.
The three plants, located near and in Seoul, generate annual sales of 600 billion won ($1=KRW1,120).
The creditor banks plan to start renegotiating with Amkor on the sale of Anam Semiconductor's plants next week, the bank official said.

Jim
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