STMicro, Intel Venture Delayed


	STMicro, Intel Venture Delayed

Brian Caulfield

12-26-2007 10:33 PM

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Brian Caulfield says:

Translation: the subprime meltdown is causing problems in the semiconductor business, of all places.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/d8f1480e-d499-420c-bdae-75f69324aa58/59C37ACF-48E5-4E80-A471-38530D0B7685/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.nytimes.com/idg/IDG_002570DE00740E18002573BD0062D410.html?ex=1356325200&en=6976b5403266c86c&ei=5088&partner=rssnyt&emc=rss" href="http://www.nytimes.com/idg/IDG_002570DE00740E18002573BD0062D410.html?ex=1356325200&en=6976b5403266c86c&ei=5088&partner=rssnyt&emc=rss" style="font-size: 11px;">www.nytimes.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/idg/IDG_002570DE00740E18002573BD0062D410.html?ex=1356325200&en=6976b5403266c86c&ei=5088&partner=rssnyt&emc=rss"><P>Hit by turmoil in the debt capital markets, <A title="STMicroelectronics" href="http://www.nytimes.com/mem/MWredirect.html?MW=http://custom.marketwatch.com/custom/nyt-com/html-companyprofile.asp&symb=STM">STMicroelectronics</A>, <A title="More information about Intel Corporation" href="http://topics.nytimes.com/top/news/business/companies/intel_corporation/index.html?inline=nyt-org">Intel</A> and Francisco Partners agreed on Wednesday to extend the deadline to launch Numonyx, a flash-memory joint venture between the three companies, to March 28.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/idg/IDG_002570DE00740E18002573BD0062D410.html?ex=1356325200&en=6976b5403266c86c&ei=5088&partner=rssnyt&emc=rss"><P>In a filing with the <A title="More articles about the U.S. Securities And Exchange Commission." href="http://topics.nytimes.com/top/reference/timestopics/organizations/s/securities_and_exchange_commission/index.html?inline=nyt-org">U.S. Securities and Exchange Commission</A>, Intel said the parties have re-negotiated the commitment letter which originally called for certain lenders to provide up to US$1.55 billion to finance Numonyx.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/idg/IDG_002570DE00740E18002573BD0062D410.html?ex=1356325200&en=6976b5403266c86c&ei=5088&partner=rssnyt&emc=rss"><P>Under the revised financing terms, Geneva-based chip maker STMicroelectronics will provide $364 million to the joint venture with a 48.6 percent stake of Numonyx. Francisco Partners will invest $150 million in exchange for a 6.3 percent equity stake, according to STMicroelectronics.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/59C37ACF-48E5-4E80-A471-38530D0B7685/blog/" title="blog or email this clip"><img src="http://content7.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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