Business / Companies

Chinese investors offer to buy German semi-conductor maker

By Chris Peterson ( Updated: 2016-05-24 00:42

A group of Chinese investors offered 6 euros a share to buy Aixtron, a German semi-conductor supplier, in a deal that values the company at 670 million euros, the Financial Times reported, citing the German-based company.

Aixtron makes the equipment used in LED lighting and said it had agreed to the offer by Grand Chip Investment, the German arm of Fujian Grand Chip Investment Fund.

The fund is owned by Chinese businessman Zhendong Liu, who has a controlling 51 per stake, with Xiamen Bohao Investment holding the remaining 49 percent, the newspaper said.

The offer of 6 euros in cash per share represents a premium of almost 24 percent over Aixtron's closing price of 4.86 euros a share in Frankfurt on Friday.

Aixtron will remain headquartered in Herzogenrath, Germany, and CEO Martin Goetzeler and COO Bernd Schulte will retain their positions; Grand Chip is expected to appoint four representatives to serve on the board once the deal is concluded, the FT said.

The takeover is subject to regulatory approval and certain unspecified conditions being met, the newspaper added.

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