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$ 1.16 billion! Infineon raises funds for Cypress acquisition-Industry news-荣鼎彩注册
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$ 1.16 billion! Infineon raises funds for Cypress acquisition

Hit count:  Date:2020-06-01 17:19:03

On May 26, Infineon stated that it had raised approximately 1.06 billion euros (1.16 billion US dollars) through the issuance of new shares to provide some funding for the Cypress acquisition.

According to a press release, Infineon issued 55 million new shares this time at an issue price of 19.30 euros per share, with a total income of approximately 1.06 billion euros. After deducting commissions and fees, these funds will be used to repay the bank for the purchase of Cypress Part of the acquisition financing provided by Sri Lanka.

Sven Schneider, Infineon ’s chief financial officer, said that the company had announced last year that it planned to complete 30% of the transaction value through equity financing. After the initial allotment and the issue of hybrid bonds last year, the company has slightly exceeded this target.

On June 3, 2019, Infineon announced that it would acquire Cypress for US $ 23.85 per share in cash, with a total value of 9 billion euros (approximately US $ 10 billion). The transaction was expected to be officially completed by the end of 2019 or early 2020 .

In March this year, both Infineon and Cypress issued an announcement on the official website that the United States Foreign Investment Commission ("CFIUS") had completed the review of Infineon's acquisition of Cypress in accordance with relevant regulations, but it still required Obtained approval from Chinese regulatory agencies. On April 7, Infineon announced on its official website that the acquisition of Cypress Semiconductor has obtained all necessary regulatory approvals.

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