Infineon acquires minority holdings in its 300mm Dresden subsidiary - Transaction will be financed through capital increase in kind
SC300 KG operates one of the world's most advanced semiconductor wafer manufacturing facilities based on 300mm technology. Through the introduction of 300mm technology Infineon has been benefiting from increased productivity and achieved cost savings of approximately 30 per cent.
Infineon and the minority shareholders Leipziger Messe GmbH and SC 300 Beteili-gungs GmbH in SC300 KG had agreed by the foundation of SC300 KG on advance profit participation which affected Infineon's Consolidated Financial Statements since the operations of SC300 KG were already fully consolidated. The purchase of the minority interest will, therefore, reduce Infineon's financing charges on an ongoing basis.
Credit Suisse First Boston is acting as financial advisor to Infineon in connection with the transaction.
The investment by Leipziger Messe GmbH and SC 300 Beteiligungs GmbH in SC300 KG was an important factor supporting the successful construction and ramp in operations of the manufacturing facilities. Leipziger Messe GmbH is a company owned by the Federal State of Saxony and by the City of Leipzig. SC 300 Beteiligungs GmbH is a subsidiary of M+W Zander Holding AG, which is the lead company of Jenoptik AGs Clean Systems group.