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September 21, 1998

ANAM SELLS PLANTS TO RAISE $600M

By CBR Staff Writer

Korean semiconductor packaging company Anam Semiconductor has raised $600m in foreign equity, selling off two manufacturing facilities in Korea to an unnamed American buyer, according to a report in the Korea Times. The sale, which was handled by Salomon Smith Barney and Bank of Boston, comes as part of Anam’s plan to raise up to $2.5bn in foreign equity. The proceeds from the sale will mostly be used to cover cross repayment guarantees among Anam subsidiaries and to improve the overall financing arrangement, according to a company official quoted by the newspaper.

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