EQS-News Elmos Semiconductor SE: Regulatory approvals granted for the sale of the Dortmund wafer fab to Littelfuse
- The German Federal Ministry for Economic Affairs and Climate Action has granted approval for the sale of the Dortmund wafer fab from Elmos Semiconductor to Littelfuse.
- The sale agreement was signed on June 28, 2023, with a net purchase price of approximately 93 million Euro.
- The antitrust clearance was already granted by the German Federal Cartel Office on July 27, 2023.
- Littelfuse will acquire the Dortmund wafer fab with approximately 225 employees, while all other activities will remain with Elmos.
EQS-News: Elmos Semiconductor SE / Key word(s): Disposal
Dortmund, August 8, 2023: The German Federal Ministry for Economic Affairs and Climate Action (BMWK) granted the approval under foreign trade law for the sale of the wafer fab, located in Dortmund, Germany (“fab”) from Elmos Semiconductor SE (FSE: ELG, “Elmos”) to Littelfuse, Inc., USA (NASDAQ: LFUS, ”Littelfuse”), a diversified, industrial technology manufacturing company, without conditions.
On June 28, 2023, Elmos and Littelfuse signed a purchase agreement for the sale of the Dortmund fab for a net purchase price of approximately 93 million Euro. The antitrust clearance was already granted by the German Federal Cartel Office (Bundeskartellamt) on July 27, 2023 without any conditions.
With the foreign trade clearance, the regulatory requirements for the closing of the transaction have been met and the buyer will make a payment to Elmos in the amount of approximately 37 million Euro. The remainder of the purchase price will be due at the closing of the transaction, which is expected to be effective December 31, 2024.
Under the agreement, Littelfuse will acquire the Dortmund wafer fab with approximately 225 employees. All other activities, including testing operations, will remain with Elmos. In addition, Elmos and Littelfuse have agreed to enter into a defined multi-year capacity sharing arrangement with an initial term lasting through 2029, with Elmos buying defined volumes of wafers produced at the fab. This long-term agreement supplements the existing supply arrangements with Elmos’ other foundry partners and ensures that Elmos has the necessary capacities to meet projected customer demand.
In the course of this M&A transaction, Elmos was advised by ATREG, Inc., specializing in the sale of high-tech infrastructures, and by the law firm Allen & Overy.
Elmos Semiconductor SE
Ralf Hoppe, Head of Investor Relations, Public Relations & ESG