Obtained European Commission Regulatory Approval! Osram Acquisition Is Expected To Be Completed On July 9

- Sep 03, 2020-

ams said that EU regulatory approval is the last prerequisite for the completion of this transaction, which has now been completed. Therefore, ams expects to complete the transaction by handing over the purchase payment on July 9, 2020. After the transaction is completed, ams will hold 69% of Osram's shares (excluding treasury shares).

According to LEDinside, after repeated bids, offers and counter-offers, Osram finally passed the ams acquisition agreement in December 2019, agreeing to ams to acquire the shares of Osram at a price of 41 euros per share.

On March 19, 2020, ams announced the progress of this transaction, and a 1.65 billion euro allotment issuance was completed on April 3 to promote the acquisition. At the same time, as the largest shareholder of Osram, ams increased its shareholding in Osram to 23.4% to speed up the merger process.

On June 30, 2020, ams announced the progress of the acquisition again: successfully priced the senior notes with a total principal of 650 million euros, with an annual interest rate of 6%, and maturing in 2025; at the same time, it also successfully priced a total principal of 400 million US dollars The senior notes have an annual interest rate of 7% and are due in 2025. The proceeds from the issuance of senior notes and the rights issue are used to advance the merger process with OSRAM.

In this merger, ams clearly supports Osram's optoelectronics development strategy, and the Osram brand will also appear on the company name of the new group. In addition, the LED department will benefit from innovation in sensing and optoelectronic solutions and further satisfying customer needs. LEDinside believes that through privatization and proper reorganization, OSRAM will re-emerge reasonable market value and achieve better development. (Text: LEDinside Janice)