Osram and AMS Sign Domination and Profit and Loss Transfer Agreement, Getting Closer to Case Close

The deal of Austria sensor company buying Osram is moving one more step forward as Osram announced that it has agreed with ams on the conclusion of a domination and profit and loss transfer agreement. In this regard, the Managing Board and the Supervisory Board of Osram adopted resolutions to sign the agreement with ams Offer GmbH and to convene an Extraordinary General Meeting for November 3, 2020 in which, inter alia, a resolution is to be tabled to approve Osram’s entry into the agreement.

Base on the agreement, minority shareholders of Osram will receive an annual compensation payment of EUR 2.57 (US$3.00) per share less the amount of any corporation tax and the solidarity surcharge at the tax rate applicable to such taxes for the respective fiscal year. In addition, if the Osram shareholders want to sell their shares, they will receive an offer of EUR 44.65 (US$ 52.19).

Osram also highlighted that the company was able to be valued at EUR 44.65 per share thanks to the validity of its transformation strategy. The company is envisioning a significant recovery in the coming year even with the ongoing corona crises. Currently, 70% of Osram’s revenue comes from advanced semiconductor industry, replacing traditional products that was once the majority of its turnover.

The German company has just raised its forecast for the 2020 fiscal year. And its FY21 (October 1, 2020 to September 30, 2021) Osram expects comparable revenue growth between 6-10%, an adjusted EBITDA margin of 9-11% as well as Free Cash Flow ranging from balanced to a positive low double-digit million euro figure.

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