ASE to Divest Holdings in Subsidiaries to Wise Road Capital

Reading time ( words)

ASE Technology Holding Co., Ltd. announces, that ASE and Beijing Wise Road Asset Management Co., Ltd. have entered into a Sale and Purchase Agreement by which ASE will sell shares and equity interests in GAPT Holding Limited (GAPT Holding Limited directly or indirectly holds 100% equity interests in Global Advanced Packaging Test (Hong Kong), ASE (WeiHai), Inc., Suzhou ASEN Semiconductors Co., Ltd. and ASE Advanced Semiconductor (Shanghai) Limited) and ASE (Kun Shan) Inc. to Wise Road Capital or its designated affiliate in exchange for a cash consideration in an aggregate amount of US$1.46 billion (the “Transaction”).

According to the sale and purchase agreement, ASE shall transfer the subject shares and equity interests in each target company to Wise Road Capital or its designated affiliate on the Completion Date. Wise Road Capital shall pay to ASE equivalent cash consideration in two parts: 1) US$1.08 billion plus aggregated cash balance and minus aggregated outstanding debt balance of the target companies will be paid upon the Completion Date and 2) US$380 million on the first business day six months after the Completion Date. ASE expects to recognize a tax effected gain of approximately US$630 million from the Transaction.

Through the completion of the Transaction, ASE will improve its overall competitive edge by optimizing its strategy and resource allocation in China, while further enhancing its investment in advanced technology development and expanding its leading edge capacities within Taiwan. ASE believes it can better leverage its global presence and leading-edge technology to better serve its global customer base.




Suggested Items

My View from CES 2021: Day 1

01/12/2021 | Dan Feinberg, Technology Editor, I-Connect007
What a difference a year makes. One year ago, those of us who cover and attend CES were going from one press conference to the next; this year, we are at home going from link to link. Confusing and challenging, yes, but there are some advantages: no masks, only five steps to get to a restroom, being able to have three of four events or more displaying on your screens at the same time and being able to download press kits as needed. So far, many new devices are being introduced, but of course, they are all online, so you wonder if some of them really exist or are truly operational as yet.

CES 2021: Just How Different Will It Be?

01/11/2021 | Dan Feinberg, I-Connect007
CES 2021 starts today and this year there is no need for an overpriced hotel room in Vegas, no long lines to get a taxi or board a bus, and no crowded exhibit halls (one good thing this year). On the other hand, you must decide ahead of time what you want to see and make a reservation or appointment if you wish to have time and access assured.

CES 2020: The Intelligence of Things

01/06/2020 | Nolan Johnson, I-Connect007
Show week for CES 2020 starts well ahead of the actual exhibition dates because it is huge. The organizers of CES state that there are more than 4,400 exhibiting companies and nearly three million net square feet of exhibit space. On the floor, you can find 307 of the 2018 Fortune Global 500 companies. Over the week, I-Connect007 Editors Dan Feinberg and Nolan Johnson will bring you some of the most interesting news, products, and announcements from 5G to IoT, semiconductor developments, autonomous vehicle technology, interconnect, fabrication materials, and much more.

Copyright © 2022 I-Connect007. All rights reserved.