AMS Osram - comment

As previously announced, AMS have sold their Digital Systems Business, including the 600 employees in the unit.  This transaction closed yesterday, with all risks and benefits transferring to Inventronics, a global supplier of LED drivers.  This closes the last of the planned divestments with total proceeds exceeding the €550m, higher than the initial expectations.  Note the majority of these proceeds were for previously divested businesses and have already been received.  This divestment of Digital Systems Business and the Clay Pay divestment closed in early March combined were expected to be €80m of proceeds.  

The closure of the deal marks the end of divestments but has limited impact on the overall business.