Home / Business and Economy / TSMC Sells Vanguard Stake, Focuses on Core
TSMC Sells Vanguard Stake, Focuses on Core
1 Jun
Summary
- TSMC plans to sell 152 million Vanguard shares.
- This sale will reduce TSMC's Vanguard stake to 19%.
- The divestment aims to concentrate resources on core business.
Taiwan Semiconductor Manufacturing Company (TSMC) is divesting a portion of its stake in Vanguard International Semiconductor Corporation. The company announced on May 15th its intention to sell up to 152 million shares of Vanguard, a specialty foundry. This planned transaction is expected to decrease TSMC's holdings in Vanguard from approximately 27.1% to around 19%.
TSMC has indicated that this sale is a strategic decision to reallocate resources towards its primary business operations. Despite the reduction in ownership, TSMC affirmed that its strategic relationship with Vanguard, encompassing production and licensing agreements, will remain unaffected. This marks TSMC's most significant sale of Vanguard shares in over a decade, with a previous sale occurring in 2015.
