OmniVision to be Acquired by Hua Capital Management, CITIC Capital and GoldStone Investment for $29.75 per share in Cash
Transaction Values OmniVision at Approximately $1.9 Billion
SANTA CLARA, CA – April 30, 2015 – OmniVision Technologies, Inc. (OVTI), a leading developer of advanced digital imaging solutions, today announced that it has entered into a definitive agreement to be acquired by a consortium composed of Hua Capital Management Co., Ltd. (“Hua Capital Management”), CITIC Capital Holdings Limited (“CITIC Capital”), and GoldStone Investment Co., Ltd. (“GoldStone Investment”) (collectively, the “Consortium”). Under the terms of the agreement, OmniVision stockholders will receive $29.75 per share in cash, or a total of approximately $1.9 billion. The agreement was unanimously approved by OmniVision’s Board of Directors.
“We are pleased to have reached this agreement, which we believe realizes significant value for our stockholders and offers new opportunities for our employees to develop more innovative solutions for customers.” said Shaw Hong, chairman and CEO of OmniVision. “Our Board unanimously concluded that partnering with Hua Capital Management, CITIC Capital and GoldStone Investment was the best choice for OmniVision, as this transaction will provide our stockholders with significant and immediate cash value. Further, Hua Capital Management, CITIC Capital and GoldStone Investment are highly regarded China-based private equity firms with deep experience in the semiconductor industry. With our new partners’ knowledge and insight and the added flexibility that we will have as a private company, OmniVision will be able to focus on reaching the next level of growth, which will benefit our employees, customers and business partners.”
“We are excited to partner with OmniVision as they embark on this next phase of growth,” said Yue Liu, a managing director at Hua Capital Management. “The world-class management team and employees of OmniVision have built a global leader in digital imaging that is well-positioned to capitalize on fast growing market opportunities in automotive, security, entertainment, and the Internet-of-Things while continuing to expand their market leadership in mobile phones. We believe our unique industry knowledge and operational expertise can help accelerate OmniVision’s presence both in China and globally.”
“We are very pleased to be making this investment and are excited about the opportunity to work with OmniVision’s outstanding management team. With the strong backing of the consortium and the leadership of the company’s management, we believe OmniVision will continue to be well-positioned to achieve significant growth through its innovative and superior digital imaging technologies and its commitment to building long-term success,” said Yichen Zhang, Chairman and CEO of CITIC Capital.
OmniVision CEO Shaw Hong is expected to remain with OmniVision in the same capacity. The transaction, which is expected to close in the third or fourth fiscal quarter of fiscal year 2016, is subject to approval by OmniVision stockholders, regulatory approvals, including antitrust review in the U.S. and the People’s Republic of China, review and clearance by the Committee on Foreign Investment in the U.S., clearance or approval under applicable Taiwan law, and other customary closing conditions. In order to obtain clearance or approval under applicable Taiwan law, OmniVision will divest certain of its investments in Taiwan, including certain of its interests in a joint venture.
J.P. Morgan Securities LLC is serving as financial advisor to OmniVision, and Wilson Sonsini Goodrich & Rosati, Professional Corporation is serving as legal advisor. Grandall Law Firm is serving as PRC legal counsel to OmniVision. BofA Merrill Lynch is serving as financial advisor to the Consortium, and Gibson, Dunn & Crutcher LLP is serving as legal advisor to the Consortium. China International Capital Corporation Limited is serving as domestic financial advisor, and Zhong Lun Law Firm is serving as domestic legal counsel. In addition, Cleary Gottlieb Steen & Hamilton LLP and Skadden, Arps, Slate, Meagher & Flom LLP are serving as legal advisors to the Consortium. Bank of China is acting as mandated lead arranger and China Merchants Bank is acting as lead arranger on the financing, with Bank of China also acting as sole and exclusive bookrunner in respect of the facilities granted under the financing.
歐姆尼圖像公司將獲得的資金管理、華中信公司投資資本和戈德斯通為29.75美元,每股現金
交易價值歐姆尼圖像公司約19億元
實際聖克拉拉,CA-30日,2015-歐姆尼圖像公司技術公司(ovti)、一個領先開發商的先進數碼影像解決方案,今天宣布,它已進入一個明確的協議,將由一個財團收購組成的華資本管理公司(“華資本管理")中信資本控股有限公司(下稱"中信資本")和Goldstone投資有限公司(下稱"投資")戈德斯通(統稱"財團")。 根據該協議的條款,歐姆尼圖像公司股東將獲得29元。75%的股份,或一個現金總額約為19億美元。 這項協議是一致批准的歐姆尼圖像公司的 董事會.
"我們 很高興達成這項協議,我們相信,我們認識到很大的價值為股東提供了新的機會,我們的員工,為客戶開發更多創新的解決辦法。”他說,香港邵氏全委會主席和首席執行官的歐姆尼圖像公司。 他說:「我們的董事會一致認為,與華資本管理、中信資本和Goldstone投資是最佳選擇,因為這項交易將歐姆尼圖像公司股東提供我們的重要和緊迫的現金價值。 進一步,華資本管理,中信資本和Goldstone投資均備受推崇的私人股本公司與中國方面的豐富經驗的半導體產業。 與我們的新合作伙伴的知識和洞察力和更多的靈活性,我們將有一個私營公司,歐姆尼圖像公司將能夠把重點放在達成一個層次的增長,這將有利於我們的員工、客戶和商業 伙伴."
他說:「我們很高興能與歐姆尼圖像公司合夥人,他們走上這下一階段的增長」,一個管理主任劉說岳在華投資管理。 他說:「世界一流的管理層和員工歐姆尼圖像公司已建立一個全球領先的數碼影像,具有優越條件,利用快速成長的市場機會的汽車、安全、娛樂、和互聯網的事情,繼續擴大其市場領導在移動電話。 我們相信我們獨特的行業知識和專門業務知識可以有助於加速歐姆尼圖像公司的存在,這兩個中國和 全球."
"我們 很高興能使這項投資,是十分高興有機會與歐姆尼圖像公司的優秀管理小組。的堅強後盾,財團和領導的本公司的管理,我們相信歐姆尼圖像公司將繼續做好准備,通過其創新實現重大增長和上級數碼成像技術及其致力於建立長期成功宸張說,中信 資本.
主席和首席執行官歐姆尼圖像公司首席執行官肖洪預計將保持與歐姆尼圖像公司在相同的能力。 這項交易預計將在第三次或第四季度,2016年財政年度,須由歐姆尼圖像公司股東批准,監管部門批准,包括反托拉斯審查在美國和中國的人民共和國,委員會審查和清拆的外國投資的美國,清拆或批准根據適用法律、台灣和其他例行的成交條件。 為了獲得批准或核准根據適用法律,台灣歐姆尼圖像公司還將剝離其某些投資在台灣,其中包括它的某些利益,一個合資 企業.
J .P.摩根証券有限責任公司是擔任財務顧問,歐姆尼圖像公司、威爾遜鬆西尼羅薩蒂固特立公司,專業公司是擔任法律顧問。 grandall律師事務所中國法律顧問的服務是以歐姆尼圖像公司。 博法"Merrill Lynch是擔任財務顧問的財團,Gibson,Dunn克拉徹LLP是擔任法律顧問的財團。中國國際金融有限公司是作為國內財務顧問、鐘倫律師事務所是作為國內法律律師。 此外,克利裡戈特利布斯蒂恩漢密爾頓及公司,Slate,石板、馬爾弗洛姆LLP是擔任法律顧問,財團。中國銀行作為授權牽頭編曲和招商銀行是作為主導編曲的融資、與中國銀行還作為唯一和專屬的賬簿管理人的尊重,給予設施的籌 資.
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