Time is running out to sell German chip supplier Siltronic to Taiwanese rival GlobalWafers. Ten months after the Taiwanese company acquired 70 percent of Siltronic, it is still waiting for approval from the German government under the Foreign Trade Act.
GlobalWafers’ hope to bring the €4.35 billion acquisition of the silicon chip maker to produce chips under one roof before the end of 2021 has been dashed. “We continue to work actively with the remaining regulators and aim to close the deal in early 2022,” a spokesperson said. The approval of the Chinese antitrust authorities and the permit from Berlin must be available by January 31, otherwise the deal will fail.
According to the negotiating circles, those concerned are particularly concerned that the German Ministry of Economic Affairs headed by the new department head Robert Habeck may not make a decision or make a decision too late. A person familiar with the conversations with Reuters said GlobalWafers has met all of the department’s requirements – for example in the case of a resale. The change of government did not make things easier. “The case is being questioned in the ministry,” the insider said. The approval will be considered granted if the government does not comment at a certain time. The deadline for this does not expire until January 31, at which time GlobalWafers need all approvals.
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