AMS Osram - comment

AMS Osram has agreed to sell its CMOS Image Sensor business, a strategic divestment that will have no impact on current trading levels and further sharpens its focus on core photonics activities. The transaction is portfolio-simplifying rather than operationally driven and does not alter near-term guidance. The company is required under bond covenants to use around €20 million of the proceeds to repurchase a portion of its outstanding convertible bonds, supporting ongoing balance-sheet deleveraging.