U.K. Blocks Chinese-Led Buyout of Biggest Microchip Factory Over National Security

The deal is the second Chinese takeover blocked by the U.K.’s new National Security and Investment Act, which came into force in January. Photo: Bloomberg

(Bloomberg) — The U.K. ordered China’s Wingtech Technology Co. Ltd. to undo its acquisition of Britain’s biggest microchip factory more than a year after the deal closed, citing national security concerns.

Wingtech’s Dutch subsidiary Nexperia Holding NV will be forced to sell the 86% of Newport Wafer Fab in Wales it bought in July 2021 in a deal worth about £63 million ($75 million), a person familiar with the matter said at the time. It held a small stake before that date, prior to the new U.K. takeover rules.

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