Sanan Optoelectronics or participate in the acquisition of AIXTRON National Integrated Circuit Fund to accelerate overseas mergers and acquisitions

AIXTRON, a leading chip and semiconductor equipment company founded in Germany, was in trouble due to financial losses and low stock prices. It announced the sale of its shares in March this year and welcomes investors to buy.

On May 23, Ai Siqiang officially disclosed the information, Fujian Giant Chip Investment Fund has officially issued an offer to Ai Siqiang, and is willing to acquire love at a price of 6 euros per share and a total price of 670 million euros. Think strong. Martin Goetzeler, executive director of Ai Siqiang, said: "The board of directors and the board of supervisors both welcome the investment of the Chinese side." The Chinese side is expected to end the loss of Ai Siqiang for four years.

Under the terms of the agreement, each share of the common stock held by Acetron shareholders will receive 6 euros in cash, which is nearly 24% higher than Aisiqiang's closing price of 4.86 euros per share on the 20th. Compared to Ai Siqiang's weighted average share price over the past three months, the above quote represents a 51% premium.

After the news that Ai Siqiang agreed to accept the acquisition, the German chip maker's share price rose 15% on the afternoon of the 23rd.

According to the disclosure, Fujian Hongxin Fund is controlled by Liu Zhendong, who holds 51% of the fund. Xiamen Investment Company Xiamen Bohao Investment (Xiamen Boao Investment Co., Ltd.) holds the remaining 49% of the shares.

According to informed sources, the backstage of Fujian Hongxin Fund is China National Fund Huaxin Investment, while the backstage of Xiamen Boao Investment Co., Ltd. is the Xiamen Municipal Finance Bureau.

Just today (May 24) Sanan Optoelectronics disclosed that the company will invest RMB 12 million in its own monetary funds with the National Integrated Circuit Industry Investment Fund Co., Ltd. and Jinjiang Anzhen Investment Fund Partnership (Limited Partnership). Established Fujian Anxin Investment Management Co., Ltd., with a business scope of investment management and investment consulting.

In February of this year, matters related to the establishment of Anxin Investment Fund have been disclosed. On February 28, the official website of the Fujian government disclosed the information, Quanzhou Municipal Government, National Integrated Circuit Industry Investment Fund Co., Ltd., Huaxin Investment Management Co., Ltd., Fujian Sanan Group Co., Ltd., etc., jointly signed the establishment of Fujian Province Anxin in Fuzhou. Industrial Investment Fund Partnership Enterprise Strategic Cooperation Agreement.

The Anxin Fund, which was established this time, will be located in Jinjiang. The target size of the fund is 50 billion yuan, and the initial investment scale is 7.51 billion yuan. It will be mainly invested in the III-V compound integrated circuit industry group and other semiconductor industries dominated by the integrated circuit industry chain, covering design, manufacturing, packaging and testing, materials, equipment and applications.

The fund will support Quanzhou to develop high-tech industries such as integrated circuit industry and semiconductor, build Fujian Electric Power Industrial Park in Jinjiang, and support Sanan Group and Sanan Optoelectronics or its affiliates to conduct domestic and overseas mergers and acquisitions, new technology research and development and new construction. And expand production lines and other services.

As of the first quarter of this year, the National Integrated Circuit Industry Investment Fund Co., Ltd. holds 9.15% of Sanan Optoelectronics.

From the relevant information obtained so far, Huaxin Investment has become the only publicly related event related party. This has also forced the industry to speculate that the acquisition of AIXTRON has a certain correlation with the Anxin Fund that Sanan Optoelectronics participated in.

According to the disclosure data, once the transaction is completed, Fujian Hongxin Fund is expected to appoint four representatives in the Ai Siqiang six-person supervisory board. The transaction needs to be approved by shareholders and needs to meet regulatory conditions.

Ai Siqiang chairman Jim Schindelhauer said on the 23rd that the current board of directors "fully supports the transaction because it provides direct value to our shareholders and enables Ai Siqiang to push new products. To the market."

Shendell Hall added: "With FGC, we have found a partner that brings insight into the local market and will support our business goals in Asia."

Ai Siqiang said that the two companies "reviewed the transaction as an opportunity to expand the company and its workforce and agreed that the deal would not result in cost cutting or layoffs."

Last month, Ai Siqiang reported that its performance was worse than expected during the three-month period ending March, and revenue fell 47% from the same period in 2015 to 21.4 million euros. The net loss for the same period expanded to 15.5 million euros, compared to 9.5 million euros in the same period last year.

Four months before the disappointing earnings report in the first quarter, the equipment manufacturer lost its biggest customer and suffered the toughest day since its founding 16 years ago.

In December last year, Ai Siqiang said that Chinese-funded Sanan Optoelectronics canceled orders, forcing Ai Siqiang to cut its annual sales guidelines, and its share price plummeted 43% on the day.

About National IC Industry Investment Fund

Under the guidance of the Ministry of Industry and Information Technology and the Ministry of Finance, China Development Finance Co., Ltd., China National Tobacco Corporation, Beijing Yizhuang International Investment Development Co., Ltd., China Mobile Communications Corporation, Shanghai Guosheng (Group) Co., Ltd., China Electronics Technology The group company, Beijing Ziguang Communication Technology Group Co., Ltd. and Huaxin Investment Management Co., Ltd. signed the “Initiator Agreement of National IC Industry Investment Fund Co., Ltd.” and “National IC Industry Investment Fund” on September 24, 2014. The Articles of Association of the Company Limited marks the official establishment of the National Integrated Circuit Industry Investment Fund.

The establishment of the National Integrated Circuit Industry Investment Fund is an important measure to implement the National Outline of the Development of Integrated Circuit Industry. It is also an industrial feature that adapts to the high risk of investment in the integrated circuit industry, cracks the financing bottleneck of the integrated circuit industry, and actively invests in the industrial investment system. explore.

The National Integrated Circuit Industry Investment Fund adopts a corporate system. CDB, China Tobacco, Yizhuang Guotou, China Mobile, Shanghai Guosheng, China Electronics, Ziguang Communication, Huaxin Investment, etc. as promoters, attracting large enterprises, financial institutions and social funds to jointly invest in the establishment of national integrated circuit industry investment Fund Co., Ltd.

The fund will adopt various forms such as equity investment, focusing on investment in integrated circuit chip manufacturing, taking into account chip design, packaging and testing, equipment and materials industries, promoting enterprises to improve production capacity, implementing mergers and acquisitions, standardizing corporate governance, and forming a benign self-development capability. . The fund implements market-oriented operation and professional management.