Qimonda Up 80 Percent on $845M Bailout From Infineon, Others

December 22, 2008 at 8:40 am PT

As initially reported over the past week by outlets including Reuters and Bloomberg, Qimonda (QI), the Munich-based maker of DRAM that’s been on death watch for some time, announced yesterday that it has obtained a 605 million euro investment from a combination of investors–including parent Infineon Technologies (IFX), which holds a 77.5 percent stake in the company, and the Federal Republic of Germany. That amounts to roughly $845 million at current exchange rates. The company said the financing comes in the form of a 150 million euro loan from the German state of Saxony, a 100 million loan from “a leading financial institution in Portugal” and a 75 million euro loan from Infineon, plus 280 million euros from the German Republic, of which Qimonda is in “advanced negotiations” concerning a 150 million euro portion.

Read the rest of this post

Tagged with: Barrons, Bloomberg, DRAM, frontpage, German Republic, Infineon, Munich, Qimonda, Reuters, Tech Trader Daily, Tiernan Ray

comments so far. Add yours.

About Voices

Along with original content and posts from across the Dow Jones network, this section of AllThingsD includes Must-Reads From Other Web Sites — pieces we’ve read, discussions we’ve followed, stuff we like. Six posts from external sites are included here each weekday, but we only run the headlines. We link to the original sites for the rest. These posts are explicitly labeled, so it’s clear that the content comes from other Web sites, and for clarity’s sake, all outside posts run against a pink background.

We also solicit original full-length posts and accept some unsolicited submissions.

Voices is edited by Beth Callaghan.