China applies pressure to close foundry acquisition deal: Page 2 of 2

January 18, 2021 // By Peter Clarke
China applies pressure to close foundry acquisition deal
China is putting time pressure on the Malaysian government to accept a deal for foundry SilTerra Malaysia Sdn Bhd from Dagang NeXchange Bhd., according to a local report.

DNeX's bid reportedly includes a promise to inject MYR500 million (about US$125 million) into the wafer fab but is the lowest of four bids for SilTerra, including a US$150 million bid from Taiwan's Hon Hai Precision Industry Co. Ltd. (see Foxconn bids for stake in Malaysian foundry). Another came from Germany's X-Fab Silicon Foundries, a long-tme partner with SilTerra.

A second joint-venture backed by China is also on the table for SilTerra, the report said. This comes from Green Packet Bhd, a wireless product company listed on the Malaysian stock exchange. Green Packet also plans to invest up to MYR500 million in SilTerra to fund its growth. The group is partnering with Chinese private equity firm Orient Excellent. The report said it was not known if Orient Excellent's funding offer was also time-limited.

Related links and articles:

TheEdge report

News articles:

Foxconn bids for stake in Malaysian foundry

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Silterra pitches PMUT-on-CMOS for fingerprint sensor, medical imaging


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