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Elmos Semiconductor SE
M&A Activity • Sep 20, 2019
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M&A Activity
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News Details
Ad-hoc | 20 September 2019 20:48
Elmos Semiconductor AG signs an agreement to sell its stake in Silicon Microstructures Inc. to TE Connectivity Ltd. based on a net debt-free enterprise value of USD 95.0 million
Elmos Semiconductor AG / Key word(s): Disposal
Elmos Semiconductor AG signs an agreement to sell its stake in Silicon Microstructures Inc. to TE Connectivity Ltd. based on a net debt-free enterprise value of USD 95.0 million
20-Sep-2019 / 20:48 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Elmos Semiconductor AG (FSE: ELG) signed an agreement today to sell Silicon Microstructures Inc. (SMI), Milpitas, California, to Measurement Specialties Inc., Berwyn, Pennsylvania, a subsidiary of TE Connectivity Ltd. The final purchase price, based on a net debt-free enterprise value of USD 95.0 million, will be determined after customary adjustments at the closing date.
Closing of the transaction is expected to take place this year and is subject to customary closing conditions.
About Elmos Semiconductor AG
Elmos develops, produces and markets semiconductors and sensors, primarily for use in the automotive industry. Our components communicate, measure, regulate and control safety, comfort, powertrain and network functions. For over 30 years, Elmos innovations have been bringing new functions to life and making mobility worldwide safer, more comfortable and more energy efficient.
Notice
This release contains forward-looking statements that are based on assumptions and estimates made by the Elmos management. Even though we assume the underlying expectations of the forward-looking statements to be realistic, we cannot guarantee the expectations will prove right. The assumptions may carry risks and uncertainties, and as a result actual events may differ materially from the forward-looking statements. Among the factors that could cause such differences are changes in general economic and business conditions, fluctuations of exchange rates and interest rates, the introduction of competing products, lack of acceptance of new products, and changes in business strategy. Elmos neither intends nor assumes any obligation to update its statements with respect to future events.
Contact
Elmos Semiconductor AG
Dafne Sanac, Head of Investor Relations
Telephone: +49231‐7549‐7859
Email: [email protected]
20-Sep-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
| Language: | English |
| Company: | Elmos Semiconductor AG |
| Heinrich-Hertz-Str. 1 | |
| 44227 Dortmund | |
| Germany | |
| Phone: | +49 (0)231 7549-510 |
| Fax: | +49 (0)231 7549-111 |
| E-mail: | [email protected] |
| Internet: | http://www.elmos.com |
| ISIN: | DE0005677108 |
| WKN: | 567710 |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 877627 |
| End of Announcement | DGAP News Service |