Make earnings with no risk
Automated AI-driven system makes the trades, you earn the money
Join now

Ams-Osram Advances Financial-Restructuring Plan with Sale of Asian Sites


Ams-Osram, a prominent electronics company based in Austria, has made significant progress in its financial-restructuring plan by selling two sites in Asia for a total of nearly 450 million euros ($475.4 million). This development has resulted in an increase in the company’s shares.

At 0853 GMT, ams-Osram’s shares traded 1.25% higher at CHF3.23, with a maximum increase of 5%.

Sale-and-Leaseback Deal for New Facility in Kulim, Malaysia

Ams-Osram entered into a sale-and-leaseback agreement for its new facility in Kulim, Malaysia. The deal involves three large Malaysian investment companies: Permodalan Nasional Berhad, the Employees’ Provident Fund, and Retirement Fund. The company expects to generate around EUR400 million from this transaction.

Sale of Another Manufacturing Facility in Asia

Additionally, ams-Osram has successfully closed the sale of another manufacturing facility in Asia that has already been phased out. The proceeds from this transaction fall within the mid double digit million-euro range.

Last month, ams-Osram introduced a comprehensive financial plan aimed at strengthening its balance sheet. As part of this plan, the company indicated that it may consider sale-and-leaseback agreements for its corporate assets to minimize borrowing costs in light of high interest rates.

Oil Futures Drop After Israel’s Ground Offensive in Gaza

Previous article

Toyota Unveils the Futuristic FT-Se Concept Car

Next article

You may also like


Leave a reply

Your email address will not be published. Required fields are marked *

More in News