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China is looking to get its hands on more semiconductor manufacturing technology through a cut-price deal that will see the Dutch chip maker Nexperia B.V. acquire U.K.-based Newport Wafer Fab.
Nexperia, which is owned by the Chinese private equity firm Wingtech Technology Co. Ltd., is already the second-largest shareholder in NWF, CNBC reported. Nexperia Chief Operations Officer Achim Kempe said that acquiring NWF, the largest chip producer in the U.K., would help it to make more chips and meet soaring demand for its products.
“The Newport facility has a very skilled operational team and has a crucial role to play to ensure continuity of operations,” Kempe told CNBC. “We look forward to building a future together.”
Italian government shields Milan-based company LPE Semiconductors deemed of strategic importance, Draghi says Rome bolstering anti-takeover powers in key assets
ROME, April 9 (Reuters) - Italy has prevented Chinese company Shenzhen Investment Holdings Co from buying a controlling stake in a Milan-based firm producing semiconductor equipment, two Italian government officials said, signalling a renewed commitment to shield strategic assets from foreign takeovers.
The two government officials told Reuters that a cabinet meeting on March 31 used its special vetting powers to block Shenzhen from buying a 70% stake in LPE, which produces components for power electronics applications.
Prime Minister Mario Draghi, speaking to reporters late on Thursday, said: “There was a case recently in which the government looked into . an Italian semiconductor company which was to be acquired by a Chinese company. It was blocked.”
REFILE-Italy vetoes takeover of semiconductor firm by Chinese company Shenzhen - sources Reuters 6 hrs ago Italian government shields Milan-based company LPE Semiconductors deemed of strategic importance, Draghi says Rome bolstering anti-takeover powers in key assets
By Giuseppe Fonte
ROME, April 9 (Reuters) - Italy has prevented Chinese company Shenzhen Investment Holdings Co from buying a controlling stake in a Milan-based firm producing semiconductor equipment, two Italian government officials said, signaling a renewed commitment to shield strategic assets from foreign takeovers.
The two government officials told Reuters that a cabinet meeting on March 31 used its special vetting powers to block Shenzhen from buying a 70% stake in LPE, which produces components for power electronics applications.