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WT Group bags $1.9bn loan to proceed with Future buyout

Taiwan's WT Group, the fourth-largest semiconductor component distributor in the world, has agreed a five-year syndicated loan project worth US 1.9 billion with two banks.

The arrangement, with DBS Bank (Taiwan) and First Commercial Bank, will enable WT Group (via its subsidiary WT Microelectronics) to go ahead with its purchase of Canada's Future Electronics.

WT Group announced the deal in September 2023 to acquire its Canadian counterpart – the world's seventh-largest semiconductor component distributor – for US3.8 billion in cash. It said the move would accelerate its entrance to the semiconductor distribution market in Europe and the US. WT Microelectronics currently works with more than 80 suppliers and has a customer base of more than 10,000 worldwide.

Future Electronics provides customers with application engineering expertise and supply chain services covering a portfolio of electronics from industry leading suppliers. It has 5,200 employees in 47 countries.

At the announcement of the acquisition in September, Omar Baig, President, CEO and Chairman of Future Electronics, said: “We believe that this transaction will benefit all our stakeholders. Our two companies share a common culture, driven by a rich entrepreneurial spirit. This combination is a great opportunity for WT Microelectronics and Future Electronics to jointly form a world-class industry leader, and allows us to continue our long-term strategic plan to offer the highest level of services to our customers, which we have been doing for the past 55 years.”


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March 01 2024 9:18 am V22.3.47-1