News Article
Communicant Semiconductor Technologies Has Received Approval For EU State Subsidies
European silicon germanium foundry venture Communicant Semiconductor Technologies has received approval from the European Union (EU) for federal and state government subsidies of $363mn in the form of cash grants and government loan guarantees. The subsidies are deemed commensurate with the jobs Communicant will create at its headquarters and manufacturing site in Frankfurt (Oder). Communicant has secured private equity of $325mn in addition to the $363mn in government grants.
European silicon germanium foundry venture Communicant Semiconductor Technologies has received approval from the European Union (EU) for federal and state government subsidies of $363mn in the form of cash grants and government loan guarantees. The subsidies are deemed commensurate with the jobs Communicant will create at its headquarters and manufacturing site in Frankfurt (Oder). Communicant has secured private equity of $325mn in addition to the $363mn in government grants.
The approval of government loan guarantees by the EU is a key step in finalising the debt financing by a major banking consortium led by Commerzbank and the Gulf International Bank (GIB) for a $650mn debt facility. The total financing of $1.3bn will complete the funding for Communicants foundry.
