EQS-Adhoc: Infineon Technologies AG: Infineon Technologies AG and Qimonda insolvency administrator reach settlement to bring legal dispute to an end by mutual agreement
EQS-Ad-hoc: Infineon Technologies AG / Key word(s): Legal Matter/Scheme of Arrangement
Infineon Technologies AG: Infineon Technologies AG and Qimonda insolvency administrator reach settlement to bring legal dispute to an end by mutual agreement
22-Aug-2024 / 20:50 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Neubiberg, 22 August 2024 – Infineon Technologies AG and Qimonda insolvency administrator reach settlement to bring legal dispute to an end by mutual agreement
Infineon Technologies AG (ISIN: DE0006231004) and the insolvency administrator of Qimonda AG have agreed on a settlement. This brings to an end the legal dispute pending at Munich Regional Court I since the end of 2010, in which the insolvency administrator had claimed an amount of around EUR 3.4 billion plus interest.
The settlement agreement provides for a payment of EUR 753.5 million. The amount consists of a nominal settlement amount of EUR 800 million less set-off amounts from previous agreements with the insolvency administrator.
The Supervisory Board of Infineon has approved the settlement today; the creditors' committee of Qimonda AG and the Management Board of Infineon had already given their approval beforehand. The parties have agreed to have the settlement determined by the court.
With the settlement agreement, all legal disputes and claims of the insolvency administrator against Infineon are settled.
As a result of the payments, Infineon will utilize the provisions set aside for the legal dispute. The amount in excess of this will have a negative impact on earnings and cash flow from discontinued operations. The payment will be made from available funds. The above amounts are before deduction of taxes.
Contact:
Alexander Foltin, Investor Relations, phone: +49 89 234-23766, fax: +49 89 234-9559847
Infineon Technologies AG (ISIN: DE0006231004) and the insolvency administrator of Qimonda AG have agreed on a settlement. This brings to an end the legal dispute pending at Munich Regional Court I since the end of 2010, in which the insolvency administrator had claimed an amount of around EUR 3.4 billion plus interest.
The settlement agreement provides for a payment of EUR 753.5 million. The amount consists of a nominal settlement amount of EUR 800 million less set-off amounts from previous agreements with the insolvency administrator.
The Supervisory Board of Infineon has approved the settlement today; the creditors' committee of Qimonda AG and the Management Board of Infineon had already given their approval beforehand. The parties have agreed to have the settlement determined by the court.
With the settlement agreement, all legal disputes and claims of the insolvency administrator against Infineon are settled.
As a result of the payments, Infineon will utilize the provisions set aside for the legal dispute. The amount in excess of this will have a negative impact on earnings and cash flow from discontinued operations. The payment will be made from available funds. The above amounts are before deduction of taxes.
Contact:
Alexander Foltin, Investor Relations, phone: +49 89 234-23766, fax: +49 89 234-9559847
End of Inside Information
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