HSF Advises China's JCET on Singapore Semi Deal
A consortium led by Shanghai-listed Jiangsu Changjiang Electronics Technology is buying Temasek-controlled chipmaker STATS ChipPAC for $760 million.
June 29, 2015 at 01:46 AM
2 minute read
Herbert Smith Freehills is acting for China's Jiangsu Changjiang Electronics Technology Co. Ltd. as the lead member of a consortium offering $760 million for Singaporean semiconductor company STATS ChipPAC Ltd.
The consortium is offering $0.35 a share for STATS ChipPac, a 9 percent premium over its closing price on June 25, the last day of trading before it received the takeover offer.
Privately held Shanghai-based Semiconductor Manufacturing International Corp. and China Integrated Circuit Industry Investment Fund Co. Ltd., a government fund set up to promote the country's semiconductor industry, are the other members of the consortium. The target company is controlled by a subsidiary of Singaporean sovereign wealth fund Temasek Holdings (Private) Ltd.
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