Orrick has advised Advanced Semiconductor Engineering (ASE) on its US$127 million acquisition, through its wholly-owned subsidiary J&R Holding Limited, of NXP Semiconductor’s 40% stake in Suzhou ASEN Semiconductors Co., Ltd. (ASEN).
Orrick’s client ASE, headquartered in Taiwan and listed on the Taiwan Stock Exchange (TSE: 2311) and New York Stock Exchange (NYSE: ASX), is the world’s largest independent semiconductor assembly and test manufacturing company. NXP Semiconductor is a leading global semiconductor manufacturer headquartered in the Netherlands and listed on Nasdaq (NASDAQ: NXPI). ASEN is a semiconductor assembly and testing joint venture formed by ASE and NXP in 2007 and located in the Suzhou Industrial Park in southern China.
Following the completion of this acquisition, ASE indirectly holds all of the outstanding equity interests of ASEN.
The Orrick team advising on this transaction was led by Hong Kong-based M&A and private equity partner Mark Lehmkuhler.