Intel has finalised and closed its transaction with STMicroelectronics and Francisco Partners to create Numonyx, an independent semiconductor company that will design, develop and manufacture NOR and NAND flash memory products.
As part of the transaction, Intel has transferred the assets associated with its NOR flash memory business and certain assets related to the company’s phase change memory initiatives to Numonyx in exchange for 45.1 per cent ownership in the new company.
STMicroelectronics acquired a 48.6 per cent ownership interest in Numonyx whilst Francisco Partners have acquired a 6.3 per cent ownership interest in exchange for a cash investment of $150m.
As part of the overall transaction, Numonyx will receive $450m of debt financing at closing from Intesa Sanpaolo and Unicredit Banca d’Impresa in addition to a $100m revolving credit facility.
Intel estimates that it will record additional non-cash impairment of approximately $300m related to the assets transferred to Numonyx and other costs associated with this transaction in the first quarter of 2008.
Approximately 2,500 Intel employees are joining Numonyx as part of this transaction.
Nanogenerator consumes CO2 to generate electricity
Nice to see my my views being backed up by no less a figure than Sabine Hossenfelder https://youtu.be/QoJzs4fA4fo