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ASMPT (00522.HK) to Sell ASMPT NEXX for USD120M
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ASMPT (00522.HK) announced that its indirectly wholly-owned subsidiary ASMPT USA Holding has agreed to sell all issued and outstanding ordinary shares of target company ASMPT NEXX to Applied Materials, Inc. (AMAT.US) for a total purchase price of USD120 million in cash, subject to certain adjustments in accordance with the share purchase agreement. The Group expects to recognize an estimated net gain of approximately USD11 million upon completion. The transaction will be completed through electronic exchange of documents and remote signing. The specific completion date will be mutually agreed by the buyer and seller, and will be no later than five business days after the fulfillment or effective waiver of the last outstanding condition set out in the share purchase agreement (other than conditions that must be satisfied at completion). Following completion, the target company will cease to be a subsidiary of the Company and its financial results will no longer be consolidated into the Groups consolidated financial statements. The target company is a supplier of electrochemical deposition and physical vapor deposition equipment for advanced semiconductor device packaging. As part of the strategic integration of the Groups business, the Group has decided to divest the target company from its semiconductor solutions segment through the disposal, enabling it to focus more on its backend packaging business. (jl/w) Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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