Summary
Amphenol Corporation announced on June 29, 2015, that it entered into a material definitive agreement to acquire FCI Asia Pte Ltd, a wholly-owned subsidiary of Fidji Luxembourg (BC4) Sarl. The acquisition is structured as a purchase of all issued share capital of FCI Asia by Amphenol's subsidiary, Amphenol East Asia Limited, with Amphenol Corporation acting as guarantor. FCI Asia is a significant player in interconnect solutions, serving the telecom, datacom, wireless communications, and industrial markets. The proposed acquisition price is $1,275 million in cash, subject to customary working capital and net cash adjustments. This strategic move appears to significantly bolster Amphenol's presence and offerings within key growth sectors. The transaction is contingent upon standard regulatory approvals and the formal acceptance of the binding offer by the seller, following consultations with FCI Asia's worker council.
Key Highlights
- 1Amphenol Corporation entered into a letter agreement to acquire FCI Asia Pte Ltd for $1.275 billion in cash.
- 2The acquisition targets FCI Asia, a global leader in interconnect solutions for telecom, datacom, wireless, and industrial markets.
- 3The transaction is being executed through Amphenol's wholly-owned subsidiary, Amphenol East Asia Limited, with Amphenol Corporation as guarantor.
- 4The purchase price is subject to adjustments for working capital and net cash.
- 5Completion of the acquisition is subject to customary regulatory approvals and seller acceptance after worker council consultations.
- 6The announcement was made via a press release filed on June 29, 2015, detailing the letter agreement dated June 27, 2015.