SK Hynix has received approval from the EU (European Union) for its acquisition of Intel's NAND business, which is expected to gain momentum in antitrust reviews currently underway in major countries.

SK Hynix announced on the 21st that it had received 'unconditional clearance' from the European Commission (EC), the European antitrust agency, for its acquisition of Intel's NAND business.

The EC approved the Phase 1 review, and SK Hynix explained, “This means that the review by the EU authorities has been completed without any conditions or additional investigations.”

Since signing a contract to acquire Intel's NAND business for $9 billion (approximately KRW 10.15 trillion) in October of last year, SK Hynix has undergone antitrust reviews in eight major countries. Following the US, this marks the second time the company has received approval from the EU.

In the United States, approval was completed by the Federal Trade Commission (FTC) at the end of last year and the Committee on Foreign Investment in the United States (CFIUS) in March. Reviews in six other countries, including Korea, China, and the United Kingdom, are ongoing.

SK Hynix and Intel have agreed to work together to successfully complete all ongoing reviews within the year.