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

December 22, 2008
by Tiernan Ray
Blogger, Barron's, Tech Trader Daily

Tiernan Ray

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.

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