The amount of financing Heidelberg is seeking seems to rise with each new report. Bloomberg.com is now reporting a figure of 1.4 billion Euros (about $2 billion). Furthermore, Bloomberg says it has heard Heidelberg will get the money in the next few days.
More detail, and a link to the Bloomberg piece, are here:
(July 3, 2009 – G. Alexander) Bloomberg.com is reporting that Heidelberg may get about $2 billion (1.4 billion Euros) in new financing, and may receive it within a few days, not weeks from now as had been expected.
The Bloomberg report contains two new elements not previously reported: the timing (the funding was not expected to be finalized until August) and the amount (only 865 million Euros had been discussed up to now).
Bloomberg attributed its information to “four people familiar with the talks” among Heidelberg management, its banks, and the government. Heidelberg stock rose 6.6% on the report.
We have previously reported that Heidelberg would be receiving 850 million Euros in government loans and guarantees backed by the Federal government and the State of Baden-Württemberg (where the city of Heidelberg is located), as well as an additional 15 million Euros backed by the Federal Government and the State of Brandenburg (where Heidelberg has a plant). We presume the additional 535 million included in the 1.4 billion Euros mentioned by Bloomberg represents loans that are not backed by the government, although this is not clarified in the Bloomberg report.
$2 billion in aid for Heidelberg?
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