SK Hynix’s Intel NAND unit acquisition gets approval in Brazil

SK Hynix’s acquisition of Intel’s NAND unit has secured the approval from authorities in Brazil.

Brazil’s Administrative Council for Economic Defense said it found that the deal didn’t hurt fair market competition.

In October last year, SK Hynix announced that it was acquiring Intel’s NAND and SSD business units for US$9 billion.

The deal requires approval from antitrust authorities in eight countries. SK Hynix has so far received approval from the US, European Union, South Korea, Taiwan and now Brazil.

It needs approval from China, the UK and Singapore for the deal to pull through. The Korean memory giant is hoping to wrap up this process within 2021.