Forthcoming ams/OSRAM Combined Company Moves Closer
OSRAM GmbH shareholders voted in favor of a domination and profit and loss transfer agreement (DPLTA) with amsAG, which owns a majority share of OSRAM (approximately 70% of shares prior to the vote). Ams, the Austrian developer and supplier of sensor systems, closed on its acquisition of the German lighting and photonics company on July 9. At that time, ams did not possess an ownership stake necessary for a DPLTA under German law.
The vote moves the companies closer to officially establishing a combined company.
“This will enable OSRAM and ams together to forge the European global market leader in optical solutions,” OSRAM CEO Olaf Berlien said.
Ams announced on Sept. 22 that its wholly owned subsidiary, Offer GmbH, had concluded a DPLTA with OSRAM. Ams at that time held 71% of OSRAM shares.
OSRAM held a general meeting Nov. 3, at which a majority of the required 75% or more of the voting rights represented favored the agreement. The agreement is expected to come into effect around the turn of the year, OSRAM reported, in a press release, with the starting date for the combined company scheduled for early 2021.
OSRAM and ams Offer, on Nov. 2, increased the cash compensation offered to OSRAM shareholders by €0.89 ($1.04), moving the per-share amount from €44.65 ($52.35) to €45.54 ($53.40).
Shareholders also confirmed three appointments to the company’s supervisory board: Hans-Peter Metzler, Thomas Stockmeier, and Johann Eitner.
/Buyers_Guide/ams_OSRAM_GmbH/c11267