Elmos Semiconductor gets German ministry approval for plant sale

Elmos Semiconductor SE

08/08/2023 08:26

BERLIN, Aug 8 (Reuters) - Elmos Semiconductor  ELGG.DE 
has gained approval from the German economy ministry for the
sale of its wafer plant in Dortmund to U.S. manufacturing firm
Littlefuse, the German company said in a statement on Tuesday.
    This follows approval from Germany's competition regulator
for the sale, which the two sides agreed to in late June at a
net purchase price of 93 million euros ($102.23 million).
    The buyer will make a payment to Elmos of around 37 million
euros, the statement said, adding that the remainder would be
due at the closing of the transaction, expected Dec. 31, 2024.

($1 = 0.9097 euros)

 (Writing by Rachel More
Editing by Miranda Murray)
 ((rachel.more@thomsonreuters.com;))