Intel reduced its stake in ASML to less than 3 %
Dutch Registrar Authority for Financial Markets (AFM) announced that Intel has reduced its stake in the company ASML to less than 3 %. The previous decline in shares to less than 5% was held by Intel in December 2017. Since ASML produces scanners for the lithographic production of semiconductors and is a monopolist in this area, it is reasonable to assume that Intel considers this area as losing investment attractiveness, whatever that means.
Intel acquired ASML shares in two stages in the summer of 2012. At the first stage, the company paid $2.1 billion for 10% of shares to ASML and another $680 million for the development of equipment for the production of chips on 450-mm silicon wafers. During the second stage, Intel acquired another 5% stake in ASML for $1 billion to provide financing for the development of EUV scanners. Total Intel paid ASML $ 4.1 billion for new developments. But EUV developments of the Dutch company were fully used by Samsung and TSMC.
In the 2012, ASML additionally sold 10% of the shares, which were equally divided between Samsung and TSMC. Later TSMC completely got rid of ASML shares, selling them almost two times cheaper than buying. However, both TSMC and Samsung are close to the commercial launch of EUV lithography, which would have been difficult to do without those investments in 2012.
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