ASE Technology sells plants in China
Taiwanese provider of semiconductor manufacturing services in assembly and test, ASE Technology Holding, says it has sold several facilities in China to Beijing-based private equity company Wise Road Capital.
ASE and Wise Road Capital have entered into a sale and purchase agreement in which ASE will sell shares and equity interests in GAPT Holding Limited – GAPT holds, either directly or indirectly, 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 for USD 1.46 billion. ASE says in a press release that it expects to recognise a profit of approximately USD 630 million from the transaction. The company also says that the transaction will improve its overall competitive edge by optimising its strategy and resource allocation in China – while still enhancing its investment in advanced technology development and capacities within Taiwan.