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United Test and Assembly Center to buy Asat Holdings

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CIOL Bureau
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SAN JOSE, USA: United Test and Assembly Center Limited (UTAC), based in Singapore, is planning to buy Asat Holdings Limited, headquartered in Hong Kong.

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A statement from United Test and Assembly Center Limited said the consideration for the proposed deal is $44,643,887 – which is subject to a downward post-closing adjustment of $5 million.

In a separate statement, Asat Holdings said it has it has signed an acquisition pact with United Test and Assembly Center.

Under the terms of agreement, Asat Holdings will sell United Test and Assembly Center Limited all the shares in Asat Limited, which is Asat Holdings’ wholly owned subsidiary.

United Test and Assembly Center will also buy, as a part of the planned transaction, the rights to inter-company loans that have been made by Asat Holdings, the statement from UTAC added.

©CyberMedia News

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