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COHU - Cohu completes divestment of Printed Circuit Board Test business
Cohu Inc.
Cohu (COHU) announces completing the sale of its Printed Circuit Board Test Group business to Mycronic AB.Cohu received $125.4M in cash proceeds, subject to further potential post-closing adjustments related to a final determination of closing costs.The company intends to use the net proceeds to repay approximately $100M of the outstanding principal on its term loan facility.Cohu announced the divestment last month.