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Infineon starts gradual withdraw from Qimonda


Wednesday, September 12, 2007 Germany's Infineon Technologies AG plans to reduce its equity interest in its DRAM spin-off, Qimonda AG.

One transaction is the planned sale of American Depositary Shares (ADSs) to reduce its equity interest in Germany's Qimonda. The DRAM maker had once been part of Infineon, but the German firm spun off that unit.

Infineon has submitted an offer to sell 25 million ADSs from its own shareholdings, with an additional option of up to 3.75 million additional ADSs. Assuming that the sale proceeds as planned, Infineon's interest in Qimonda would be reduced to 78.6 percent.

Furthermore, if the option is exercised in full, Infineon's interest in Qimonda would be further reduced to 77.5 percent.

By: DocMemory
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