Dan’s Biz Bookshelf: 'This Is Strategy: Make Better Plans'
The Chemical Connection: Reducing Defects in Circuit Board Production
It’s Only Common Sense: Trust Is All You Need
ASE Technology Holding's Subsidiary, USI Shanghai, Acquires Asteelflash
December 3, 2020 | PR NewswireEstimated reading time: 1 minute
ASE Technology Holding Co., Ltd. announced the Company's subsidiary, Universal Scientific Industrial (Shanghai) Co., Ltd., has successfully completed the acquisition of 100% shares of Asteelflash Group through the acquisition of Asteelflash Group's parent company, Financière AFG S.A.S..
The closing consideration was paid in an amount of US$421,481,287, including cash and share consideration. In addition to the payment of closing consideration, Universal Scientific Industrial (France), USI's wholly owned subsidiary, is obliged to pay an additional amount up to US$42,804,551 in cash, subject to an earn-out mechanism linked to FAFG's business performance provided under the definitive agreement, after the end of year 2022. The cash consideration was in an amount of US$374,606,287 paid by USI France upon closing. Upon making payment of the cash consideration, USI France acquired 71,530,174 shares of FAFG (approximately 89.6% of the issued shares of FAFG). USI will issue 25,939,972 new shares as share consideration after closing (issue price of RMB 12.64 per share, in total RMB 327,881,250, in equivalent of US$46,875,000) in exchange for 8,317,462 shares of FAFG (approximately 10.4% of the issued shares of FAFG). As a result, USI has acquired 100% of FAFG's total issued shares, 79,847,636 shares.
Asteelflash Group, headquartered in France, is a European leader in the electronics manufacturing services or EMS industry. Asteelflash Group's current management team will continue in key management roles within USI. The combined companies' customer portfolio, expanded global footprint and technological capabilities will allow for geographical market expansion along with broadened service offerings. USI and Asteelflash Group will immediately start to implement a synergy plan— leveraging combined sales, supply chain management and technology sharing. This combination is a major step in the expansion of USI's international leadership position.
Share on:
Suggested Items
MKS Instruments Reports Q1 2025 Financial Results
05/16/2025 | Globe NewswireMKS Instruments, Inc., a global provider of enabling technologies that transform our world, today reported first quarter 2025 financial results.
TTM Board of Directors Approves New $100 Million Share Repurchase Program
05/14/2025 | TTM Technologies, Inc.TTM Technologies, Inc. announced that its Board of Directors authorized a new share repurchase program allowing the Company to repurchase its outstanding common stock with an aggregate market value of up to $100 million from time to time through May 7, 2027.
Rogers Reports Q1 2025 Results
04/30/2025 | Rogers CorporationNet sales of $190.5 million decreased 0.9% versus the prior quarter. Advanced Electronics Solutions (AES) net sales increased by 1.8% primarily related to higher ADAS and aerospace and defense sales, partially offset by lower EV/HEV and industrial sales. Elastomeric Material Solutions (EMS) net sales decreased by 4.3% primarily from a seasonal decline in portable electronics sales and lower EV/HEV sales, partially offset by higher general industrial sales.
Lockheed Martin Reports Q1 2025 Financial Results
04/22/2025 | Lockheed MartinLockheed Martin Corporation reported first quarter 2025 sales of $18.0 billion, compared to $17.2 billion in the first quarter of 2024. Net earnings in the first quarter of 2025 were $1.7 billion, or $7.28 per share, compared to $1.5 billion, or $6.39 per share, in the first quarter of 2024.
onsemi Proposes to Acquire Allegro MicroSystems for $35.10 Per Share in Cash
03/07/2025 | BUSINESS WIREonsemi disclosed details of a proposal submitted to the Board of Directors of Allegro MicroSystems, Inc. to acquire the company for $35.10 per share in cash for each share of Allegro’s common stock on a fully diluted basis at an implied enterprise value of $6.9 billion.