Nanya to become a major shareholder in Micron

To further enhance both Nanya and Micron’s strategic relationships, the Taiwanese company plans to invest up to NTD 31.5 billion (or USD 962.86 million) to acquire Micron’s private placement shares. The transactions are expected to close in the middle of 2016. Nanya will support Micron Taiwan to acquire Inotera as a solely own subsidiary for NTD 30 per share through Share Swap Transaction. Under the agreement, Nanya Technology will sell its 24.2% of Inotera ownerships for NTD 47.6 billion (USD 1.45 billion) to Micron. The transactions are subject to certain conditions, including approved by Inotea’s shareholders and Governmental approvals. “Nanya and Micron have entered into a new era of strategic alliance relationships. By becoming one of its major share ownerships in Micron, and entering cooperation in future technology nodes, will create Win-Win situation for both Nanya and Micron,” said Nanya Technology’s President, Dr. Pei Ing Lee.