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Renesas announces execution of facilities agreement for Altium acquisition
Earlier this February, Japanese semiconductor company Renesas announced that it had entered into an agreement to acquire Australian electronics design systems specialist Altium Limited.
Under the terms of the transaction, Renesas will acquire all outstanding shares of Altium for a cash price of AUD 68.50 per share, representing a total equity value of approximately AUD 9.1 billion (approximately EUR 5.5 billion).
To provide a portion of the funds for the acquisition, Renesas has now entered into a loan agreement (Facilities Agreement) with a borrowing limit of JPY 1 trillion (EUR 5.9 billion).
The acquisition is currently expected to be completed in the second half of 2024.
While the influence of the transaction on Renesas' business performance has not yet been determined at present, Renesas says that it will provide further information once any material impact is made to its business performance.
