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Technology Stocks : Amkor Technology Inc (AMKR)
AMKR 48.00-2.4%Jan 16 9:30 AM EST
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To: Jim Oravetz who wrote (987)8/21/2002 12:55:43 PM
From: Jim Oravetz  Read Replies (1) of 1056
 
Amkor Updates Disclosure On Dongbu
DOW JONES NEWSWIRES

Amkor Technology said it has been unable to execute an agreement to sell 20 million shares of Anam Semiconductor Inc. to Dongbu Group. (Q.DGG).

The failure is due to the inability of Dongbu, Texas Instruments Inc. (TXN) and Anam Semiconductor to come to terms on some technology transfer and manufacturing/purchase agreements, according to Amkor.

None of the companies concerned could be reached to verify Amkor's statement, or to clarify the relationship between the two transactions.

Amkor and Dongbu continue to explore ways to complete the share purchase transaction, Amkor said in a press release Wednesday.

Last week, Korea's Maeil business newspaper reported that Dongbu's electronics unit was in a preliminary deal valued at about $400 million to supply non-memory chips to Texas Instruments.

Later, the newspaper reported that affiliates of South Korea's Dongbu, including Dongbu Insurance Co. (Q.DGI), are being investigated for possible violations relating to the electronics unit's purchase of a stake in Anam Semiconductor last month.

In July, Dongbu Group said it was in preliminary talks to acquire a 16.1% stake in Anam Semiconductor from Amkor in an attempt to expand its foundry business, which is run by the electronics unit.

Dongbu's stake in Anam would increase to 25.8% from 9.7% if the deal was completed, which would make Dongbu Anam's largest shareholder. Amkor currently owns about 43% of Anam.

Amkor provides contract semiconductor assembly and test services.

Company Web site: amkor.com
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