Infineon CFO: looking for acquisitions of up to 3 billion euros

FILE PHOTO: A general view of Infineon Technologies, a semiconductor producer, before a ceremony for Infineon's Smart Power Fab, in Dresden, Germany, May 2, 2023. REUTERS/Matthias Rietschel

BERLIN (Reuters) - Infineon is looking for small- and medium-sized acquisitions worth up to 3 billion euros ($3.30 billion) that would fit well with the German chipmaker's portfolio, Chief Financial Officer Sven Schneider told Germany's Focus Money magazine.

"We are now aiming for smaller and medium-sized acquisitions in order to strengthen ourselves selectively in those areas where we can become even better," said Schneider.

Acquisitions can range from 1 to 3 billion euros, said Schneider, who added that liquidity was not an issue.

"We have liquidity of almost 3 and a half billion euros. We want to maintain a minimum liquidity of 1 billion plus 10%. That currently corresponds to about 2.6 billion euros," he said.

An acquisition would only be made if it fit the company's portfolio strategically, financially and culturally, he added.

($1 = 0.9084 euros)

(Writing by Miranda Murray, Editing by Friederike Heine)

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