ST’s digital products division (DPG) has attracted interest from a potential acquirer, reports the French business magazine Challenges.
Yazid Sadeq
However the potential acquirer may be no more welcome to ST employees than he is to the French finance ministry.
The possible buyer is Yazid Sabeq, a former Commissioner for Diversity under the government of Nicolas Sarkozy who bought the French foundry Altis Semiconductor five years ago helped by €60 million from Dassault.
Sabeq is interested in Crolles 1 – the 200mm fab at Crolles. He has written to Carlo Bozotti, CEO of ST, asking for information about the fab.
According to Challenges the letter says that Sabeq has an “interest in studying a resumption” of DPG and to “create a powerful French foundry specialist with a European dimension”. Sabeg says “such operation fits perfectly in the context of a consolidation of the French semiconductor industry”.
The French finance ministry is not so keen – saying that Altis’ specialities – RF-CMOS, mixed signal, e-flash and HV are not a good fit with Crolles 1.
A note from the General Directorate of Enterprises (DGE) of the Ministry of Economy, to the Minister of the Economy, Emmanuel Macron, says: “There is no synergy between Altis and the activities of DPG. No credible solution could be found in the affiliation of Crolles 200-site equipped with a strategic positioning f sold to Altis – a company financially fragile and suffering real economic difficulties.”
It is pointed out that Altis has struggled to meet payroll in June and August leading to walk-outs. Sabeq blamed a slowdown in China for declining business.
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