Semiconductor Manufacturing International (SMIC) will be part of a group of China-based investors looking to buy STATS ChipPAC. The IC foundry has announced that its subsidiary SilTech Shanghai will participate in Jiangsu Changjiang Electronics Technology's proposed acquisition of the Singapore-based IC backend house.
Under the co-investment proposal, SilTech Shanghai will put in around US$100 million, SMIC disclosed.
The IC Fund set up by China's government is another co-investor Jiangsu Changjiang has recruited to support its proposed acquisition of STATS ChipPAC.
Jiangsu Changjiang in early November made a US$780 million offer to acquire STATS ChipPAC, with negotiations originally set to complete by November 30. Nevertheless, talks on the proposed takeover are still ongoing with completion scheduled for December 31.
Jiangsu Changjiang is China's largest semiconductor chip tester with five production plants located in the provinces of Jiangsu and Anhui.
Incorporated in September 2014, the IC Fund is China's national investment fund aiming to boost development of the local IC industry.
