The consortium led by DNeX wins the bid for SilTerra de Khazanah



[ad_1]

KUALA LUMPUR (February 8): A consortium led by Dagang NeXchange Bhd (DNeX) won the tender to acquire the semiconductor manufacturing company SilTerra Malaysia Sdn Bhd from Khazanah Nasional Bhd.

In a stock presentation today, DNeX said that Khazaanah informed it that it had won its offer for the entire issued share capital of SilTerra, subject to the signing of a definitive agreement.

“Acceptance of the offer is still subject to strict confidentiality with Khazanah and further details of the offer cannot be publicly disclosed until the signature of the final agreement.

“The company will make the necessary announcements in a timely manner in accordance with the Listing Requirements when there is any material development arising from the previous event or when the definitive agreement has been signed,” he said.

In short, the DNeX-led consortium was in the race to acquire SilTerra from the sovereign wealth fund. Another local competitor, Green Packet Bhd, was said to be in the race as well.

The Edge reported on January 11 that DNeX offered a total of RM470 million for the acquisition of a 100% stake in the Kulim-based chip foundry, in which it will hold 60% and its partner Beijing CGP Investment Co Ltd the 40%.

The offer included the assumption of SilTerra’s debts amounting to RM 210 million. However, on January 21, DNeX said via an exchange filing that this was inaccurate.

As for Green Packet, it had announced through another filing on the stock exchange that it was financing the majority shareholder of Nuglobal Ventures Sdn Bhd, which is owned by local bumiputera and minority Chinese majority shareholders. Nuglobal Ventures also made an offer for SilTerra.

DNeX shares were up 17.86% or five sen more to 33 sen at the close of the market at noon, yielding a market capitalization of RM656.07 million. He saw 275.39 million shares.



[ad_2]