Taipei
The Economic Times
US memory chip maker Micron Technology said on Monday it will buy Qimonda's 35.6 percent stake in Inotera, a joint venture between Qimonda and Nanya Tech, for $400 million in cash.
The transaction will be completed in two stages, with Micron purchasing half of Qimonda's stake, or about 18 percent of Taiwan's Inotera Memories, for $200 million in cash within approximately the next week -- subject to certain government approvals and other customary conditions, Micron said in a statement.
The remaining roughly 18 percent stake in Inotera would be acquired upon receipt of Taiwan Federal Trade Commission approval and other customary conditions, it said.
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