MagnaChip Semiconductor Corp at Citi Global Technology Conference (Virtual) Transcript
Okay. Welcome to Day 1 of Citi Virtual Technology Conference. My name is Atif Malik. I cover U.S. semiconductors and equipment stock here at Citi. It's my pleasure to welcome YJ Kim, CEO of MagnaChip; as well as Young-Soo, CFO at MagnaChip. I'll open it up with my questions first, and then we'll have the audience type in their questions via Zoom chat. Welcome, YJ.
Questions & Answers
YJ, MagnaChip completed the sales of Foundry Services Group last week. Can you remind us with the financial details of the transaction?
Yes, thank you. So we announced the successful completion of Foundry business and fared for sale on September 1. The purchase price, approximately $350.6 million including working capital adjustment of approximately $5.9 million. Buyer assumed all severance liabilities of
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