Brief: Elmos Semiconductor SE Agreement Signed On The Sale Of The Elmos Wafer Fab In Dortmund To Littelfuse

Elmos Semiconductor SE

28/06/2023 01:43

June 27 (Reuters) - Elmos Semiconductor Se  ELGG.DE :
    * EQS-ADHOC: ELMOS SEMICONDUCTOR SE: AGREEMENT SIGNED ON THE
SALE
OF THE ELMOS WAFER FAB IN DORTMUND TO LITTELFUSE
    * UNDER AGREEMENT, A GERMAN SUBSIDIARY OF LITTELFUSE WILL
ACQUIRE
ELMOS WAFER FAB AT DORTMUND SITE WITH  225 EMPLOYEES
    * ELMOS HAS AGREED TO SELL DORTMUND WAFER FAB AT A NET
PURCHASE
PRICE OF APPROXIMATELY 93 MILLION EURO
    * ELMOS WILL RETAIN FULL OPERATIONAL CONTROL OVER WAFER FAB
UNTIL
CLOSING DATE
    * FOLLOWING REGULATORY APPROVALS, BUYER WILL MAKE A PAYMENT
OF
APPROXIMATELY 37 MILLION EURO
    * REMAINING APPROXIMATELY 56 MILLION EURO WILL BE PAID AT
CLOSING,
EXPECTED TO BE EFFECTIVE DECEMBER 31, 2024
    * TRANSACTION HAS NO MAJOR EFFECTS ON EBIT IN FISCAL YEAR
2023
    * NOW ANTICIPATES CAPITAL EXPENDITURES OF APPROXIMATELY 19%
± 2
PERCENTAGE POINTS OF SALES IN FISCAL YEAR 202
    * ELMOS WILL RETAIN FULL OPERATIONAL CONTROL OVER WAFER FAB
UNTIL
CLOSING DATE
    * ELMOS NOW EXPECTS A NEGATIVE OPERATING ADJUSTED FREE CASH
FLOW
IN 2023.

Source text for Eikon:  ID:nEQ6Jnnbza 
Further company coverage:  ELGG.DE 

 ((Reuters.Briefs@thomsonreuters.com;))