Wacker sells part of Siltronic

Wacker Chemie has sold about 7% of the capital stock of its Siltronic business as part of a private placement in the form of an accelerated bookbuilding process to qualified investors and to international institutional investors. Siltronic is one of the world’s largest producers of hyperpure silicon wafers, with sites in Asia, Europe, and the US.

The gross proceeds amount to approximately €188 million. With this, said CEO Christian Hartel, “we are strengthening our financial position and creating additional scope to invest in future growth”. Wacker remains the largest stakeholder in Siltronic, with about 24%. It held a majority stake until 2017, when it reduced its stake from 51.8% to 30.8% in a similar sale.