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