Ad
Ad
Ad
22
June
2012

Renesas to secure 633 million USD support?

Major shareholders in Renesas have reportedly agreed to provide the struggling company with 633 million USD support package.
According to Reuters, sources indicate that Hitachi and Mitsubishi Electric, which own a combined 55 percent stake in the chipmaker, would provide loans to the company. In addition Renesas will secure 50 billion yen in credit line support.

NEC would also support the company in a similar way. Reuters said the deal is expected to be closed by the end of next week.

The companies confirmed that the will support Renesas but have not released further details.
Read comments for this article

Comments

Please note the following: Critical comments are allowed and even encouraged. Discussions are welcome. Verbal abuse, insults and racist / homophobic remarks are not. Such comments will be removed.
Further details can be found here.
blog comments powered by Disqus
Load more news