Hynix Semiconductor has agreed to sell an 80 percent stake in its wholly-owned flat-panel display unit for five hundred-70 million dollars to a consortium led by Taiwan's Cando Corporation.
Hynix, formerly the electronics arm of now disintegrated Hyundai Group, said it will receive four hundred million dollars in cash by November.
Payment of the remaining one hundred-70 million dollars will be spread over five years.
Cando and Hynix will set up a joint venture company to run the unit, which produces thin film transistor liquid crystal displays, or T-F-T ... L-C-D's.
The flat-panel displays are commonly used in notebook computers and television sets designed to be hung on a wall.