SK hynix's acquisition of Intel's NAND biz gets approval from Singapore

Singapore's antitrust watchdog has approved SK hynix Inc.'s deal to acquire Intel's NAND business, the company said Wednesday.

Last October, South Korea's No. 2 chipmaker signed a deal to buy Intel's non-volatile business for $9 billion, which includes the U.S. firm's solid state drive business and a NAND flash chip plant in Dalian, China. Following the deal, SK hynix had to obtain approval from antitrust regulators in major countries.

The Competition and Consumer Commission of Singapore cleared the takeover unconditionally, according to the company.

With the latest approval, SK hynix is only waiting for China's approval. The company earlier received the green light for the deal from the United States, South Korea, Europe, Taiwan, Brazil and Britain. (Yonhap)