Infineon invites private equity investment
Infineon is looking to raise €725million through a rights issue, with an affiliate of Apollo Global Management guaranteeing to buy 326m of the 337m shares being offered, should they not be taken by others. Infineon will use the proceeds to repay debt and strengthen its liquidity position.
CEO Peter Bauer, pictured, said the move is an important part of Infineon's refinancing plan. "It should make a significant contribution to increase the economic value and sustainability of Infineon for the benefit of both the employees and the stakeholders,"
Founded in 1990, Apollo is a leading global alternative asset manager. The company, which will appoint the chairman of Infineon's supervisory board and another member, is likely to end up holding between 15 and 30% of Infineon.
