Cleary Gottlieb represented Newbridge Asia/TPG Asia and Affinity Equity Partners in connection with their S$2.2 billion (approximately $1.7 billion) acquisition of United Test and Assembly Center Ltd under a leveraged scheme of arrangement which became effective October 23 and closed November 2. The acquisition was partially funded with third-party debt financing of senior and bridge loans equaling $1.1 billion.
United Test is a leading independent provider of a wide range of semiconductor device test and assembly services including memory, mixed-signal/RF and logic integrated circuits.