ASMI To Net Up To $600M In Hong Kong Unit Stake Sale

Law360, New York (March 13, 2013, 2:58 PM EDT) -- Dutch semiconductor manufacturer ASM International NV is shaving a slice off its Hong Kong unit in a stock placement that could bring in as much as $600 million, closing out a strategic evaluation meant to unlock value for returns-hungry shareholders, the company said Wednesday.

In the transaction, ASMI will unload between 8 and 12 percent of its stake in ASM Pacific Technology Ltd., giving up its majority ownership by knocking down its interest to less than 45 percent. Based on current prices, the stock is worth...
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