Micron’s Numonyx to sell minority stake in joint venture with Hynix Semiconductor

Micron’s Numonyx to sell joint venture stake

NEW YORK — Chip maker Micron Technology Inc., which earlier this year bought memory chip maker Numonyx BV for $1.2 billion, said Wednesday that Numonyx has agreed to sell its minority stake in a joint venture with Hynix Semiconductor Inc. for $422.9 million.

Micron said in a regulatory filing that Hynix has agreed to buy Numonyx’s roughly 19.3 percent stake in the venture. The selling price may be adjusted upon closing.

Shares of Micron rose 17 cents, or 2.3 percent, to close at $7.64.