One Equity to buy 28.8 pct of Sanken North America for $291 mln

One Equity Partners is buying a minority stake, 28.8 percent, of Sanken North America via a private placement. The deal is valued at $291 million. Sanken Electric Company Ltd, the parent, will receive the $291 million in proceeds through a special dividend. Sanken North America, of Worcester, Massachusetts, owns two semiconductor businesses, Allegro MicroSystems LLC and Polar Semiconductor LLC. Sanken Electric supplies analog power semiconductor products.

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