Baker McKenzie acted as lead counsel to Intel Corporation (Intel) in the second and final closing of the sale of its solid-state drive and NAND memory business to SK hynix Inc. (SK hynix) in an all-cash transaction valued at an aggregate of approximately USD 9 billion.
The closing marks the end of a transaction that was initially signed on October 19, 2020 and structured to close in two stages. On December 29, 2021, the first stage of the transaction closed and SK hynix paid Intel USD 7 billion and acquired Intel’s NAND memory fabrication facility in Dalian, China and NAND solid-state drive business. At this second and final closing on March 27, 2025, SK hynix paid Intel USD 1.9 billion and acquired Intel’s NAND memory technology and manufacturing business.
Led by partners Kelly Kriebs, Tyler Hilton and Michael Greaney, the Baker McKenzie team includes:
- M&A:Â Natalie Karl, Joe Moses and Ashley Kim
- Employment: M’Alyssa Mecenas
- Employment and Tax: Matthew Schonholz
- Tax: David Goldman
