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Micron Tech Received Notice From Intel That Sale Of Intel's Noncontrolling Interest In IM Flash Tech To Co Will Close On Oct 31


Tuesday, 7 May 2019 

May 7 (Reuters) - Intel Corp ::MICRON TECHNOLOGY - ON MAY 3, CO RECEIVED NOTICE FROM INTEL THAT SALE OF INTEL'S NONCONTROLLING INTEREST IN IM FLASH TECHNOLOGIES TO CO WILL CLOSE ON OCT 31.MICRON TECHNOLOGY - AT CLOSING, CO EXPECTS TO PAY INTEL ABOUT $1.3 BILLION - $1.5 BILLION IN CASH FOR INTEL’S NONCONTROLLING INTEREST IN IMFT.MICRON TECHNOLOGY SAYS AS OF END OF MICRON’S Q2, IMFT MEMBER DEBT OWED TO INTEL WAS $1 BILLION - SEC FILING.MICRON TECHNOLOGY SAYS EXPECTS TO RECOGNIZE A GAAP FINANCIAL GAIN OF ABOUT $100 MILLION.