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November 14, 2005 6:46 pm

Infineon set to exit D-Rams

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The supervisory board of Infineon, the German computer chipmaker, is on Thursday scheduled to sanction splitting off the company’s troubled D-Ram memory chip business as a prelude to an initial public offering of the unit by summer 2006.

People familiar with the deal said the majority of Infineon’s executive board now favoured floating a part of the business on the stock exchange rather than spinning off the company entirely by allocating shares to current Infineon shareholders.

While pressing ahead with an IPO, Wolfgang Ziebart, Infineon chief executive, would “not close the door on other options”, like selling the business outright, a person who knows the company said.

Scepticism about prospects for the sector and about selling a unit contributing about 40 per cent of sales could lead workers’ representatives on the supervisory board to delay a vote.

A decision would then be made “in the next weeks”, said a person familiar with the board. Mr Ziebart was currently aiming for an IPO “round about early summer,” the person said. 

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