Stamford law is advising SGX-listed Contel Corporation (‘Contel’), in an all-shares acquisition of Midland Silicon (‘Midland”), a US-based silicon trading group with a strategic focus on metallurgical solar grade and poly-silicon fines to solar wafer producers (‘Midland Acquisition’).
Contel had in December 2010 announced its proposed US$1.2 billion acquisition from AuzMinerals Resource Group (‘AMRG’) of Solar Silicon Resources Group (‘SSRG’), which is positioned to be a global supplier of high purity solar-grade silica quartz (‘Contel RTO’). While Contel continues to work with SSRG and its vendor to meet the conditions of the Contel RTO, the Midland Acquisition represents Contel’s first acquisition within its stated plan to expand its business into silica, quartz, silicon metal, crucible quartz and related business activities.
With the acquisition of Midland, Contel obtains the services of Robert P. Krasa and James B. May, two world class industry leaders with a collective experience of more than 50 years in the silicone industry and silicon metal production, and Contel is expected to possess an important sales channel and operational expertise specific to the business of SSRG.
Leading the Stamford Law deal team are Yap Lian Seng and Elizabeth Kong.