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Announced

Completed

Kyocera completed the acquisition of a 28% stake in AVX for $1bn.

Financials

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Transaction Value£794m
Consideration TypeCash
Capital Owned72%
Capital Bid For28%
EV/Sales2.1x
EV/EBITDA9.06x
Share Price Premium44.6%
One Off Charge-

Synopsis

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Kyocera, a Japanese multinational ceramics and electronics manufacturer, completed the acquisition of a remaining 28% stake in AVX, a manufacturer, supplier, and reseller of a broad line of electronic components, for $1bn. Following the completion of the transaction, AVX will become a wholly-owned subsidiary of Kyocera. The $21.75 offer price represents a 44.6% premium over the closing price on November 26, 2019. The transaction is subject to customary closing conditions and is not subject to any financing condition.

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