According to the report, the UAE could buy all or part of Hynix. Amid an upturn in business, Hynix remains in a holding pattern in regards to gaining a new majority shareholder.

As reported, former bail out creditors in memory maker Hynix are seeking bids for the remaining 28.1 percent stake they still hold in the chip maker. The search for a new majority shareholder for Hynix was nearing as a Korean conglomerate called Hyosung has submitted a bid.

However, Hyosung recently dropped its bid for Hynix. As a result, shareholders who bailed out memory chip maker Hynix in the early part of this decade were planning to put their holding up for auction last month, according to online reports.

The UAE, which could be a new bidder, is a federation of seven emirates situated in the southeast of the Arabian Peninsula in Southwest Asia on the Persian Gulf. The UAE consists of seven states, termed emirates, which are Abu Dhabi, Dubai, Sharjah, Ajman, Umm al-Quwain, Ras al-Khaimah and Fujairah.

In the technology sector, the UAE has made big headlines in recent times. Abu Dhabi's Advanced Technology Investment Co. recently agreed to acquire Singapore-based Chartered Semiconductor Manufacturing Co. Ltd., for a total of $3.9 billion, continuing its expansion into the contract wafer production business.

Chartered will be folded into GlobalFoundries, the former manufacturing division of Advanced Micro Devices Inc. floated as a separate entity earlier this year by ATIC, which injected funds into the company under a joint venture deal with the microprocessor and graphics IC vendor.

Neither Advanced Technology Investment Co. LLC (ATIC), the majority shareholder in foundry chip maker Globalfoundries Inc., nor AMD are likely to be affected by the recent Dubai debt crisis, according to a note from financial analysts.

By: DocMemory
Copyright © 2023 CST, Inc. All Rights Reserved