Mergers and Acquistions News
Categories: Semi-Conductors
December 1st 2008, 16:20PM
Micron Technology has secured a short-term loan of $285 million (£190 million) to fund its acquisition of Qimonda Memory's stake in Inotera Memories.
The US firm will use the cash to purchase the 36.5 per cent holding in Inotera, something which will cost it a total of $400 million.
Micron has secured the investment funding from the Formosa Plastics Group (FPG) and will see it hold a similar amount of stock as Nan Ya Technoglies, an FPG member.
The deal is aimed at improving the strategic partnership between Micron, Nan Ya and Inotera, as well as boosting the development of advance chip manufacturing lines.
Under the terms of the loan, $200 million will come from Nan Ya technologies and $85 million from Inotera itself.
Last month, iSuppli predicted that the Chinese fabless semiconductor market is set to undergo a period of consolidation in the near future.
According to the firm, at least 100 businesses in the sector will disappear within the next two years.
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