SK hynix announced it has received unconditional clearance from the European Commission for the company’s proposed acquisition of Intel’s NAND and SSD business.

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Unedited press release follows:

SK hynix Receives Clearance for Intel NAND and SSD Business Acquisition from the European Commission

Approval further moves $9 billion deal toward planned final close

May 21, 2021 – SK hynix has received unconditional clearance from the European Commission for its proposed acquisition of Intel’s NAND and SSD business. This follows approval from the U.S. Federal Trade Commission last year, and approval from the Committee on Foreign Investment in the United States (CFIUS) this March.

By the European Commission’s Phase 1 decision, EU approves SK hynix’s acquisition of Intel NAND and SSD business, without any conditions or further investigation.

The proposed acquisition will help SK hynix expand its global footprint, adding complementary memory technology. SK hynix expects to enhance its expertise through the acquisition, to deliver more breakthroughs and higher value products for customers.

SK hynix and Intel will do the best efforts for the remaining approvals to be obtained during 2021.