Dechert LLP Advises SK Siltron on US$450 Million Acquisition of DuPont's SiC Wafer Business

September 11, 2019

Dechert LLP advised Korean conglomerate SK Siltron Co., Ltd. on the purchase of U.S. chemicals firm DuPont's Silicon Carbide (SiC) Wafer business for US$450 million. The acquisition is subject to regulatory approvals from relevant domestic and overseas authorities and is expected to close by the end of 2019.

The multi-jurisdictional and cross-practice Dechert team working on behalf of SK Siltron was led by Hong Kong-based corporate partner David Cho and included Hong Kong-based counsel Spencer Park, associates Amos Yoo and Susan Yoon (Corporate); Singapore-based associate Jalpit Amin (Corporate); Philadelphia-based partners Abbi Cohen (Corporate) and Thomas Johnson II (Labor); New York-based partners Joshua Rawson (Intellectual Property), Joshua Milgrim (Tax), counsels Francois Quintard-Morenas (Corporate), Beverly Ang (Antitrust/Competition) and associates Sarah Burke (Labor) and Noah Shier (Intellectual Property); Washington-based partners Jeremy Zucker and Darshak Dholakia (Litigation) and associate Hrishikesh Hari (Litigation); Los Angeles-based partner Andrew Wong (Litigation) and Brussels-based associate Michael Okkonen (Antitrust/Competition).

Commenting on the deal, David Cho, partner at Dechert said, “The acquisition highlights the rapid growth of the electric vehicle industry and the current appetite for investment in this market from Asian corporations. Our work on the deal demonstrates Dechert’s expertise on cross-border M&A transactions and is a great example of our team’s ability to deliver the most value to clients when advising on complex financial transactions in regulated industries.” 

SK Siltron, which manufactures and distributes semiconductors, plans to utilize and enhance the newly acquired SiC wafer business’ research and production capabilities to further develop its competitive edge in the industry. Customer demand for SiC wafers has been increasing rapidly due to the expanding supply of electric vehicles, and the industry is expected to welcome the additional, high-quality supply. 

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Dechert is a leading global law firm with 26 offices around the world. We advise on matters and transactions of the greatest complexity, bringing energy, creativity and efficient management of legal issues to deliver commercial and practical advice for clients.