AMS Osram - comment

AMS Osram has completed the sale of its non-optical analog and mixed-signal sensor business to Infineon for €570m in cash. Together with proceeds from smaller asset disposals, the company will use the cash to deleverage as part of its strategy to refocus on digital photonics and reduce leverage below 2.0x. Attention now turns to the planned sale of the Kulim factory, the final major asset disposal in the current programme. A successful exit from Kulim would pave the way for a broader refinancing as AMS Osram works toward regaining investment-grade status.