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Siltronic sells to Global Wafers as Reuters unresolved German approval

Frankfurt (Reuters)-Germany’s approval for the sale of chip maker Siltronic to Taiwan’s Global Wafers, a key requirement for the deal, is still open within three weeks of its expiration, Siltronic said Friday. ..

Germany’s Federal Ministry of Economics and Energy must approve the sale of € 4.35 billion ($ 4.97 billion), which was agreed about a year ago, by January 31st. Otherwise, the transaction will collapse.

In a recent discussion with the ministry, Siltronic and Global Wafers said, “We had not received information on whether or not a permit for the public acquisition of Siltronic AG by Global Wafers would be issued and the terms and conditions.”

Siltronic also said the ministry “did not communicate specific promises or conditions that could make a clearance decision.”

GlobalWafers acquired a majority stake in Siltronic last year and initially wanted a deal aimed at establishing the world’s second largest 300mm wafer manufacturer in late 2021.

($ 1 = 0.8761 euros)

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Siltronic sells to Global Wafers as Reuters unresolved German approval

Source link Siltronic sells to Global Wafers as Reuters unresolved German approval

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