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Epistar to Acquire Majority Stake in Huga Optotech

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Reviewed

Jun 1 2010

Epistar, Taiwan-based manufacturer of LED chips, reported that it has planned to enter into a partnership with fellow chip producer, Huga Optotech. The company intends to acquire 47.88% stake and become the largest stakeholder of Huga.

The Chairman of Epistar Lee Biing-jye said that following the alliance, both the companies will share their respective resources such as product developments for market segmentation, and procurement. However, he added that they will retain their current operations.

For the acquisition, Epistar will issue 78 million shares to be exchanged for 184.08 million Huga shares. Huga will issue 100 million shares to raise more capital. By subscribing to 44.79 million shares from the issued shares, Epistar will become the largest shareholder in Huga.

Epistar already has 19.30% stake in Tekcore and 40.35% stake in Na Ya Photonics. All these companies put together will have a capacity of producing 296 MOCVD sets by 2010 end.

Source:

http://www.epistar.com.tw/

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