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Wise Road Capital buys Magnachip Semiconductor for $1.4 bln

SEOUL, March 29 (Reuters) - A controlling stake in South Korea-based display and power chip maker Magnachip Semiconductor Corp was sold in a take-private, all cash deal worth about $1.4 billion to Beijing-based Wise Road Capital and its partners, Magnachip said in a statement on Monday.

The transaction is expected to close during the second half of 2021, subject to customary closing conditions, including the receipt of shareholder and regulatory approvals. (Reporting by Joyce Lee and Heekyong Yang; Editing by Kim Coghill)

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