Baker McKenzie’s Malaysian member firm Wong & Partners and local law firm Azmi & Associates have advised on the $420 million investment and financing of Austrian sensor maker ams-OSRAM’s semiconductor facility.
As per the deal, ams-OSRAM has executed a set of sale and leaseback agreements in relation to its newly constructed 8-inch semiconductor facility in Kulim, Malaysia, with a joint investment value of 2 billion ringgit ($420 million).
The co-investors are three Malaysian national fund and retirement institutions - Permodalan Nasional Berhad (PNB), Employees' Provident Fund (EPF), and Kumpulan Wang Persaraan (Diperbadankan) (KWAP). They will own 33.3 percent of the facility each.
In a joint statement, the co-investors said the transaction offered a unique opportunity for them to invest in a high-quality and high-specification industrial real asset in Malaysia, which provides competitive returns, and the investment is for a 10-year period with a clear exit strategy.
The Azmi team that served as lead counsel to PNB, EPF and KWAP was led by senior partner Dato' Azmi Mohd Ali and partners Zuhaidi Mohd Shahari, Mohd Sallahudin Abdullah, and Muhammad Inamul Hassan Shah. The team advised on deal structuring, capital markets, corporate compliance and cross-border investment queries.
Vienna-headquartered Cherha Hempel also advised the three co-investors on Austrian law.
The Wong & Partners team representing asm-OSRAM comprised partners May Chua and Faez Abdul Razak.