Ericsson completes forward sale of Infineon shares
Following the earlier announcement that the sale of its Microelectronics division to Infineon Technologies AG has been approved by all responsible anti-trust authorities, Ericsson announces that it will receive 27.5 million Infineon shares as consideration.
Infineon will increase its capital and accordingly issue 27.5 million new shares to Ericsson after fulfillment of all necessary formal requirements.
Ericsson announces furthermore that it has entered into a forward sale of 27.5 million Infineon shares with Schroder Salomon Smith Barney, under which it will receive cash proceeds of approximately 300 million EUR equal to 2,800 million SEK against delivery of the shares.
Closing is expected to occur before the end of September 2002.
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