PARIS After months of uncertainty and confusion, Altis Semiconductor SA, a joint venture between Infineon Technologies AG and IBM Corp., has found a buyer.
His name is Germain Djouhri, a French-Algerian financier who is prepared to invest 79 million euros ($118 million) in the company, according to French magazine L'Usine Nouvelle.
The information was delivered by Frédéric Brunier, secretary of Altis' works council shortly after the company's extraordinary meeting on Nov. 12.
Upon closing, Djouhri will become the supervisory board's chairman while Jean-Paul Beisson, managing director in place, will be the board of directors' chairman.
At the extraordinary meeting, workers' representatives had the confirmation that the restructuring plan would not exceed the initial 400 job cuts. They were also told that negotiations with the buyer were not fully ended.
In September, rumors that the Russian diversified company AFK Sistema was interested in purchasing a stake in Infineon resurfaced.
Infineon then acknowledged that there had been talks but at the same time the company denied there is anything relevant about it.
The site currently employs 1,500 people.