SoftBank-owned UK chip designer Arm Holding said it will sell a majority interest in its Chinese semiconductor design unit for $775.2m.
Arm Holding will sell a 51 per cent interest in Arm Technology China to financial investors and Arm partners in a deal that will allow the new owners to form a joint venture to run Arm’s semiconductor technology business in China.
SoftBank bought Arm Holdings, the UK chip designer, for £24.3bn two years ago but has already signalled plans to sell a 25 per cent interest to the Saudi-backed Vision Fund and potentially relist the company.
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