[December 15, 2014] |
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Delta Electronics Announced Its Subsidiary Deltronics (Netherlands) B.V. Will Acquire Eltek ASA for a Consideration of Approximately NOK3.9 Billion
Delta Electronics announced today that its 100% owned subsidiary
Deltronics (Netherlands) B.V. (DEN) will acquire Eltek ASA (Eltek)
through public offering at NOK 11.75 per share for up to 100% of all
outstanding Eltek shares, with estimated value of NOK3.9 billion (USD530
million). The transaction is expected to complete by June 2015.
Delta Electronics is a major power supplies provider with core expertise
in power electronics design, manufacturing and global operations. Eltek
is a leader in power supply development and marketing with over 40 years
of experience mainly in European and American markets. This strategic
acquisition marks a significant step to Delta and brings to both Delta
and Eltek the unique synergy to leverage engineering, sales and global
operations platforms from each other to provide customers with
unparalleled product solutions and services. Through integrating
valuable resources from both companies, we believe this transaction is
mutually beneficial and unleashes huge potential to olidify our
leadership and long-term growth opportunity in global power business.
About Delta
Delta, founded in 1971, is a global leader in power and thermal
management solutions and a major player in several product segments such
as industrial automation, display and networking. Its mission statement,
"To provide innovative, clean and energy-efficient solutions for a
better tomorrow," focuses on addressing key environmental issues such as
global climate change. As an energy-saving solutions provider with core
competencies in power electronics and innovative research and
development, Delta's business domains include Power Electronics, Energy
Management, and Smart Green Life. Delta reported group revenues of
US$7.2 billion in 2013 and has 114 sales offices, 56 R&D centers and 30
manufacturing facilities worldwide now.
Throughout its history, Delta has received many global awards and
recognition for its business achievements, innovative technologies and
dedication to corporate social responsibilities. Since 2011, Delta has
been selected as a member of Dow Jones Sustainability™ World Index (DJSI
World) for 4 consecutive years. In 2014, Delta is ranked by Carbon
Disclosure Project (CDP) on the highest A-level of the Climate
Performance Leadership Index (CPLI), and is the only one from nearly
2,000 listed companies in Greater China that makes to CPLI list.
About Eltek
Eltek was established in 1971 and listed on Oslo Stock Exchange
(ELT:Oslo) in 1998. Headquartered in Drammen, Norway, Eltek designs,
manufactures, and markets power supplies and has 2,400 employees at 60
offices in almost 40 countries worldwide. Eltek reported revenues of
NOK3.7 billion in 2013. The company focuses on power electronics markets
and is one of the leaders in telecom power business and a growing force
in industrial and datacenter applications.
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