Qimonda Richmond gets $172.5 million bid for equipment in Virginia

By Jennifer Lanning Drey

Portland, Ore., Aug. 21 - Qimonda Richmond, LLC has entered into a $172.5 million stalking horse agreement with Texas Instruments Inc. for assets located in its Sandston, Va., facility, according to a Thursday filing with the U.S. Bankruptcy Court for the District of Delaware.

The bid does not include the building or the property, according to a separate court filing.

Under the agreement, Qimonda will pay Texas Instruments a $4.31 million break-up fee and reimburse up to $750,000 of its related expenses if it selects another bidder.

The deadline for competing bids is 4 p.m. ET on Sept. 21.

Qimonda Richmond, a U.S. subsidiary of Munich, Germany-based semiconductor memory products producer Qimonda AG, filed for bankruptcy on Feb. 20, 2009. The Chapter 11 case number is 09-10589.

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