Qimonda Richmond granted court OK of $175.5 million asset sale

By Caroline Salls

Pittsburgh, Sept. 24 - Qimonda Richmond, LLC received court approval of the $175.5 million sale of some of its assets to Texas Instruments Inc., according to a Thursday filing with the U.S. Bankruptcy Court for the District of Delaware.

The assets being sold include 300 mm tools, office equipment, furniture, information technology equipment, process tools, facility-related systems, support equipment and tool replacement parts, as well as some 300 mm semiconductor manufacturing equipment Qimonda is purchasing from RBS Asset Finance, Inc. and Overland Capital Group, LLC for a total of $4.38 million.

Under the purchase agreement, Texas Instruments will pay Qimonda Richmond a total of $3.5 million in maintenance and service obligation fees.

According to Thursday's filing, no competing bids were received, and the auction was cancelled.

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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