ASE Tech Agrees To Sell Shares, Equity In GAPT Holding For $1.5B

ASE Technology Holding Co Ltd ASX and Beijing Wise Road Asset Management agreed to sell shares and equity interests in GAPT Holding to Wise Road Capital for a cash consideration of $1.46 billion.
ASE shall transfer the subject shares and equity interests in each target company to Wise Road Capital.
Wise Road Capital shall pay $1.08 billion plus aggregated cash balance and minus aggregated outstanding debt balance of the target companies will be paid upon the completion date.
Wise Road Capital will also pay $380 million on the first business day six months after completion.
ASE sees a tax effected gain of $630 million from the transaction.
ASE will improve its overall competitive edge by optimizing its strategy and resource allocation in China while further enhancing its investment in advanced technology development and expanding its leading-edge capacities within Taiwan.
Price Action: ASX shares traded higher by 6.91% at $7.82 on the last check Wednesday.