Sep 08, 2020 / 11:05AM GMT
Atif Malik - Citigroup Inc. Exchange Research - Research Analyst
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 and Answers:
Atif Malik - Citigroup Inc. Exchange Research - Research AnalystYJ, MagnaChip completed the sales of Foundry Services Group last week. Can you remind us with the financial details of the transaction?
Young-Joon Kim - MagnaChip Semiconductor Corporation - CEO & Director
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