Nexperia sells UK's largest wafer fab for $177 million

【Lansheng Technology News】On the evening of November 8, Wingtech Technology announced that its wholly-owned subsidiary Nexperia B.V. plans to transfer 100% of the equity of NEPTUNE 6 LIMITED. The transferee is Siliconix, a wholly-owned subsidiary of Vishay, a company listed on the New York Stock Exchange. The basic value of the transaction amount is 1.77 One hundred million U.S. dollars.

Wingtech Technology stated that the sale of NWF equity to Siliconix was mainly to protect the interests of NWF employees and customers and to better protect the interests of investors. Regarding the impact of divesting NWF, Wingtech stated in the announcement that NWF has made a small contribution to the company's semiconductor business production capacity. The company's future wafer production capacity increase will mainly be through Nexperia's own production capacity at its Manchester, UK and Hamburg, Germany wafer fabs. This can be achieved by upgrading and expanding outsourcing. This transaction will not have a significant impact on the company's semiconductor business capacity.

In addition, the transaction is expected to be completed in 2024. If the transaction is completed, it is expected to generate investment income of approximately US$53 million. According to the risk warning of the announcement, the procedures that NWF still needs to perform for this equity transfer include passing the review by the British government, confirming whether the third party has given up its right of first refusal, and obtaining the consent of Nexperia's relevant creditors.

From Nexperia's announcement of the completion of the acquisition in July 2021, to the British government's mandatory divestment in the name of national security in November 2022, to the signing of the sale agreement on November 8, 2023, the NWF merger and acquisition case has been full of twists and turns.