Davis Polk is advising J.P. Morgan Securities LLC as financial adviser to Cree, Inc. in connection with the $850 million sale of its Wolfspeed Power and RF division, which includes the silicon carbide substrate business for power, RF and gemstone applications, to Infineon Technologies AG. The closing of the transaction, which is expected by the end of calendar year 2016, is subject to customary closing conditions and regulatory approvals, including HSR and CFIUS clearance.

Cree is making energy-wasting traditional lighting technologies obsolete through the use of energy-efficient, mercury-free LED lighting. Infineon Technologies is a world leader in semiconductor solutions that make life easier, safer and greener.

The Davis Polk corporate team includes partner Alan F. Denenberg and associate Tyler P. Pender. All members of the Davis Polk team are based in the Northern California office.

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