TAIPEI, Taiwan, Nov. 24, 2017 /PRNewswire/ — Advanced Semiconductor Engineering, Inc. (TWSE Code: 2311, NYSE Code: ASX) (“ASE“) and Siliconware Precision Industries Co., Ltd. (“SPIL“)(Taiwan Stock Exchange: 2325, NASDAQ: SPIL) jointly announced on June 30, 2016 that both companies plan to establish ASE Industrial Holding Co., Ltd. (“HoldCo“). Following the announcement, ASE and SPIL filed applications to antitrust authorities in different jurisdictions in connection with the proposed transaction. ASE and SPIL received clearances from the Taiwan Fair Trade Commission and the U.S. Federal Trade Commission on November 16, 2016 and May 15, 2017, respectively. On November 24, 2017, the Anti-Monopoly Bureau under the Ministry of Commerce of the PRC (“MOFCOM“) announced that it has conditionally approved the proposed transaction. ASE and SPIL highly appreciate the assistance that we have received from cross-strait and all relevant governmental authorities during the review process for this transaction. Since ASE and SPIL have now received all necessary antitrust clearances for the transaction, ASE will immediately proceed with the establishment of HoldCo. It is expected that an extraordinary general meeting will be convened in February 2018 and the establishment of HoldCo will be completed by the end of May 2018. This timeline, however, is subject to the review progress of competent authorities.
The combination of ASE and SPIL in the form of a joint share exchange (the “Share Exchange“) could promote healthy competition, enhance research and development intensity and provide high-quality and customized services to all customers. More importantly, the Share Exchange could contribute to the development of technical support for the advancement of the next-generation digital age. While the Share Exchange carries positive significance for Taiwan and benefits the development of the semiconductor packaging and testing technology in the PRC and across the globe, ASE and SPIL are aware of the fact that certain industry players and authorities in the PRC may have concerns over the potential restrictive effects of the Share Exchange. In order to mitigate such concerns, ASE and SPIL filed a remedial proposal to MOFCOM, which included the companies’ commitments to maintain independent operations for a confined period.
HoldCo will continue to list in Taiwan and in the US. ASE and SPIL will continue to expand our investment in Taiwan, to cherish and protect this land that nurtured us. In addition, we will continue to hold ourselves to the highest corporate governance standards and implement sustainable business