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Home News

AMS-Osram Sells Two Asian Sites in Financial-Restructuring Plan

by Myfxtools
October 30, 2023
in News
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Electronics company ams-Osram has successfully sold two sites in Asia as part of its financial-restructuring plan, generating approximately 450 million euros ($475.4 million) in proceeds.

Sale and Leaseback of Kulim Facility

The main transaction involves the sale and leaseback of ams-Osram’s new facility in Kulim, Malaysia. The sale was made to three prominent Malaysian investment companies, Permodalan Nasional Berhad, Employees’ Provident Fund, and Retirement Fund. The expected proceeds from this sale amount to around EUR400 million. Notably, the manufacturing equipment is excluded from the sale. A lease agreement is expected to be finalized in the winter of 2023/24, spanning a term of 10 years.

“The Sale and Leaseback transaction of our new 8-inch LED manufacturing facility in Kulim is a key element to optimize the borrowing cost in today’s high interest environment,” commented Rainer Irle, Chief Financial Officer of ams-Osram.

Other Manufacturing Facility Sale

In addition to the Kulim facility, ams-Osram has also sold another manufacturing facility in Asia. This particular facility had already been phased out. The proceeds generated from this sale fall within the mid double-digit million-euro range.

No Impact on Technology, Research-and-Development, and Manufacturing Strategies

It is important to note that these asset sales will not impact ams-Osram’s technology, research-and-development, or manufacturing strategies. The company remains committed to maintaining its core focus and objectives.

For media inquiries, please contact Adria Calatayud.

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