VREP sells interests in ZMDI to IDT for $307 million
Clients VR Equitypartner GmbH
Jones Day advised VR Equitypartner GmbH ("VREP), a joint subsidiary of DZ BANK and WGZ BANK, on the $307 million sale of all interests in Zentrum Mikroelektronik Dresden AG (ZMDI) by Global ASIC GmbH ("Global ASIC"), family office Elber GmbH and Freistaat Sachsen (the Free State of Saxony) to a wholly owned subsidiary of Integrated Device Technology, Inc. ("IDT"). Global ASIC, an investment vehicle jointly controlled by VREP, Sachsenring Automobiltechnik Aktiengesellschaft i.L. and Millennium Capital Fonds EINS GmbH, holds 63 percent of the shares in ZMDI.