Tuesday, December 16, 2014

Apple washes its hands of sapphire partner GT Advanced for an extra $50 million

GT Advanced is not anywhere near being a truly settled matter, but for Apple, it looks like the final chapter is written.



A couple months ago, GT Advanced had submitted an agreement it had made with Apple where the former would repay the latter several hundred million dollars in loans and back-rent at its Mesa, Arizona facility.



A number of investors were not happy with the arrangement so GT Advanced was able to revise the settlement, essentially valuating Apple’s role $50 million more than before, meaning Apple is spending a little more money to close the book. The bankruptcy judge ...



from PhoneArena - News http://ift.tt/1BUIoHD

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