Jiangsu Changjiang Electronics Technology, China’s biggest chip tester, has made an offer to buy Temasek’s 83 per cent stake in Singapore-based Stats ChipPac for $780m in cash in the largest ever move by a Chinese semiconductor group overseas.
Stats ChipPac, the world’s fourth-largest provider of chip packaging and testing, said it had entered into an exclusive, 30-day negotiation period with Singapore’s state investment company, which has held shares in Stats ChipPac since 1995.
JCET was founded in 1972 and is listed on the Shanghai Stock Exchange. It has five manufacturing plants in Jiangsu and Anhui provinces and recorded revenue in its 2013 fiscal year of $830m.
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