Simmons & Simmons has advised Infineon Technologies AG, the Munich-based semiconductor manufacturer, on the sale of its Newport manufacturing site to Neptune 6 Ltd, a private company.

The transaction has received support from the Welsh Government. Infineon and Neptune 6 have also entered into a two-year supply agreement to ensure smooth transition phase. The buyer will operate the site under the name Newport Wafer Fab Ltd.

Jocelyn Ormond, who led the Simmons & Simmons team on the transaction, said: “We are delighted to have been able to support new technology client Infineon Technologies AG, a leading maker of chips, through this complex transaction to secure the future of their Newport plant”.

The Simmons & Simmons team advising Infineon is led by corporate partner, Jocelyn Ormond and includes associates Ed Nisbet and Amanda Kwagala (Corporate), George Morris and Mark Hine (ICT), partner Nick Cronkshaw and associates Zoë Arnautov and Matthew Norris (Tax), of counsel Audrey Williams and associate Sarah Wybron (Employment), partners James Dean (Pensions) and Alistair Hill (Banking & Finance), associate James Agnew (IP), partner Iain Macfarlane and associate Kelly Brown (Real Estate) and partner Steven McNab (Environmental).