Printed circuit board manufacturer TTM Technologies has entered into a letter of intent to acquire the remaining 20% interest in Meadville Aspocomp (BVI) Holdings Ltd. from Aspocomp Group for EUR 14.5 million.
TTM also has agreed to exchange its 10% stake in Aspocomp Oulu Oy for approximately 12.3 million shares of Aspocomp.
TTM’s Asia Pacific business segment, which at the time was part of Meadville Holdings Ltd., acquired an 80% percent interest in Meadville Aspocomp from Aspocomp in late 2007, with an agreement to purchase the remaining 20% as early as January 2013.
By agreeing to purchase the remaining stake early, TTM will receive a discount of approximately EUR 2.9 million to the minimum price.
EUR 1 = US$1.483
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