Siltronic AG is taking over a majority stake in its Siltronic Samsung Wafer Pte. Ltd. joint venture. Siltronic and Samsung Electronics Co. Ltd. announced the signing of the relevant contracts.
So far, each company has held a 50-percent stake in the joint venture. Now, Siltronic is to subscribe for new shares as part of a capital increase. It will own 78 percent of the joint venture. Samsung’s stake will decrease to 22 percent as a result. At the same time, the joint venture is to repay all outstanding project loans of some €210 million. Siltronic will spend about €150 million in total on this. Consequently, the net financial debt of the WACKER Group will climb by the same amount. The full consolidation of the joint venture will increase Siltronic’s EBITDA. With full consolidation, Siltronic would have posted EBITDA of some €100 million in 2012 instead of €0.7 million as reported.