Sharp Corporation to acquire Skytec UMC Ltd.
22 January 2019 – At the end of 2016, Japan-based Sharp Corporation, part of Taiwan's Foxconn Group, and Skytec Group Limited ("Skytec") entered into a strategic business alliance regarding the manufacture and sale of Sharp branded products and services in Europe and, for that purpose, Sharp acquired a majority stake of 56.7% in the newly incorporated joint venture Skytec UMC Ltd.
At the end of 2018, Sharp and Skytec agreed that Sharp will now acquire in multiple steps the remaining 43.3% in the joint venture Skytec UMC Ltd.
Skytec UMC Ltd. is the holding company of the operating company UMC Poland Sp. z o.o. Through Skytec UMC Ltd., Sharp and Skytec are running together the UMC Group's business of designing, manufacturing and distributing Sharp branded TVs in Europe.
Walder Wyss acts as advisor to Skytec in all legal aspects of the transaction. The team is led by Stefan Knobloch (Partner, Corporate/M&A) and further includes Christian Lütolf (Associate, Corporate/M&A), Reto Jacobs (Partner, Competition) and Gion Giger (Managing Associate, Competition).