Mar 28, 2024 05:43 AM
BUSINESS
China Resources Pays $1.6 Billion for Control of Chip Packaging Giant
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Founded in 1972, JCET is China’s largest semiconductor packaging and testing company
State-owned conglomerate China Resources Group plans to pay 11.7 billion yuan ($1.6 billion) for a controlling stake in integrated circuit packaging leader JCET Group, as a giant industry investment fund steps back.
Pan Shi Hong Kong Co. Ltd., a subsidiary of China Resources, will acquire a combined 22.53% of JCET from the semiconductor company’s biggest shareholders China Integrated Circuit Industry Investment Fund Co. Ltd. and SilTech Semiconductor (Shanghai) Co. Ltd., Shanghai-listed JCET (600584.SH) said in an exchange filing Tuesday.
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