Numonyx sale to get STMicro a $245 mn gain

PARIS, FRANCE: Top European chipmaker STMicroelectronics said Friday it will report a $245 million gain from the sale of its Numonyx stake to Micron Technology.

The estimated after-tax gain will be booked in STMicroelectronics' fiscal second-quarter and is based on Micron's closing share price on Thursday.

Franco-Italian group STMicroelectronics added it had fully repaid a $225 million senior credit facility at the deal's close.

Numonyx was formed in 2008 as a joint venture between STMicroelectronics and Intel Corp, specializing in flash-type memory chips. It was sold to Micron for $1.27 billion in an all-share deal announced in February.