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Distributor of Semiconductor Components - WPG Holdings Limited (TWSE:3702) Commences a Cash Tender Offer for Genuine C&C INC. (OTC:5384)


Distributor of Semiconductor Components - WPG Holdings Limited (TWSE:3702) Commences a Cash Tender Offer for Genuine C&C INC. (OTC:5384)

Date: 2015/03/04

WPG Holdings Limited (WPG, TWSE:3702) announces its Board of Directors approved to commence a Cash Tender Offer to acquire Genuine C&C INC.(Genuine, OTC:5384) shares at NT$14.5 per share. The shares planned to be acquired is 39,784,725 shares (representing approximately 50% of Genuine outstanding shares) and the threshold is 7,956,945 shares (representing approximately 10% of Genuine outstanding shares). The cash tender offer period starts from March 3, 2015 to April 8, 2015. The transaction is expected to complete if the threshold has been satisfied and approvals of Fair Trade Commissions are obtained.

Genuine is the main ICT agent in Taiwan founded in November 1988. The company provides extraordinary value chain to suppliers, retailer, consumers, and connects them through its services with three distribution centers, logistics centers, eight locations, more than one hundred alliance locations, and over seven thousand retailers.

WPG, the distributor of semiconductor components currently holds 16.29% of Genuine through WPI Group. WPG and Genuine will closely cooperate by utilizing Genuine B2B e-commerce platform and ICT distribution channels in China; meanwhile, delivering WPG experience in industrial to improve both competitiveness. Through integrating platform and combination benefits, stockholder's equity will increase in the long run.

If the transaction complete, based on the acquisition price and the highest number of shares to be acquired, the total consideration amount of the tender offer will be up to NT$0.58 billion, WPG will hold approximately 66.29% shares of Genuine and become the largest shareholder.

Acquiring company appointed KGI Securities Co., Ltd. as Finance consultant and PricewaterhouseCoopers Legal as legal advisor.


About WPG Holdings Limited

WPG Holdings Limited, distributor of semiconductor components in Asia-Pacific region, had issued capital of NT$16.557 billion. Its 2014 unaudited consolidated sales is NT$452.57 billion and net income is NT$7.1 billion. The company serves as a franchise partner for over 250 world-wide suppliers. With nearly 6,000 staff in over 130 sales offices around the world, such as Hong Kong, China, Singapore, Malaysia, Thailand, Philippines, India, Korea, and North America.

WPG franchises complete product lines. It dedicates in semiconductor components market planning and integrating 3C market in Asia, also continuously positioning itself to be e-commerce distributor with providing high value-added services. WPG has successfully achieved economies of scale.


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