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Russian Corporation may buy a stake in Infineon
18.09.2009 14:55
Russian Corporation may buy a stake in Infineon

Financial corporation Sistema, the largest diversified consumer services corporation in Russia and the CIS, is likely to acquire a 15-20% stake in German Infineon for 1 billion EUR. Currently the companies are negotiating the key parameters of the deal, reports the Kommersant newspaper.
      
      Initially the Russian party figured to take over the controlling stake in Infineon for 2 billion EUR. However, the August's talks between the Russian president and Angela Merkel showed that Germany is not interested in sale of major shareholding.
      
      Infineon Technologies focuses on the three central challenges facing modern society: energy efficiency, communications and security and offers semiconductors and system solutions for automotive and industrial electronics, chip card and security applications as well as applications in communications.
      
      The major shareholders in the company are Dodge & Cox International Stock Fund (9,95%), Capital Group International (4,93%), Templeton Investment Counsel (4,89%), Odey Asset Management (3,16%), Brandes Investment Partners (3,08%).
      
      JSFC Sistema serves over 100 million consumers both in Russia and abroad. Sistema's ownership structure was formed in 1993. During this year the acquisition of the main assets in telecommunications, high-tech, tourism, trade, oil and oil products, construction and development was completed.
      
      
      source:
      Russian Business
      
      


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