Hynix to buy 640 mln ProMOS shares at T$7.96/shr

SEOUL, June 17 (Reuters) - Hynix Semiconductor Inc (000660.KS), the world's No. 2 maker of memory chips, said on Tuesday it would buy 640 million shares in Taiwan's ProMOS Technologies (5387.TWO) at T$7.96 per share.

ProMOS shares closed at T7.07 on Monday.

The two companies agreed in early May on the stake deal, where Hynix would acquire a stake in ProMOS alone or with other financial investors in a private placement.

Hynix said it had not finalised the exact timing and method of the acquisition.

ProMOS officials were not available for comment. (Reporting by Marie-France Han and Rhee So-eui; Editing by Keiron Henderson)