Elmos Semiconductor gets German ministry approval for plant sale

Elmos Semiconductor has gained approval from the German economy ministry for the sale of its wafer plant in Dortmund to U.S. manufacturing firm Littlefuse, the German company said in a statement on Tuesday.

This follows approval from Germany’s competition regulator for the sale, which the two sides agreed to in late June at a net purchase price of 93 million euros ($102.23 million).

The buyer will make a payment to Elmos of around 37 million euros, the statement said, adding that the remainder would be due at the closing of the transaction, expected Dec. 31, 2024.