Munich electronics company: Deadline for Siltronic takeover ends without approval

Munich electronics company
Deadline for Siltronic takeover ends without approval

The Taiwanese chip supplier Globalwafers cannot take over the Munich electronics company Siltronic.

The legal deadline for this ended on Tuesday night at midnight without the Federal Ministry for Economic Affairs and Climate Protection having given the necessary approval.

“By the end of this period, not all the necessary review steps could be completed as part of the investment review,” said a ministry spokeswoman. “This applies in particular to the review of the antitrust approval by the Chinese authorities, which was only granted last week.”

The Chinese competition authority had approved the almost 4.4 billion euro transaction on January 21st. However, the authority imposed conditions: According to this, Globalwafers should have sold its business involving the so-called zone drawing process – a production variant for silicon wafers – within six months. In addition, the group should continue to supply Chinese customers.

A so-called foreign trade clearance certificate in Germany would have been required for the takeover. The Federal Ministry of Economics examines whether foreign investments in domestic companies can be expected to adversely affect public order or security in the Federal Republic.

Munich-based Siltronic is one of the leading manufacturers of silicon discs (wafers) for semiconductors and chips. The board of directors and the supervisory board had welcomed the takeover bid. The last hurdle would have been the declaration of no objection from the Federal Ministry of Economics. Siltronic employs around 4,000 people and produces in Freiberg, Saxony, among other places. The largest plant is in Singapore.

dpa