October 14, 2015, anysilicon
According to the latest reports, Temasek and China’s Jiangsu Changjiang Electronics Technology Co Ltd (JCET) just signed a $1.8 million deal that will allow JCET to acquire STATS ChipPAC from Temasek.
The decision followed the new internal financial policy at Temsasek which aims to diversify the risk on its $173 billion portfolio. As a result of the new strategy, in fact, Temasek will drop leading positions inside publicly listed companies and will start investing more into private ones in the hope of improving its outcomes. For the same exact reason, indeed, Temasek sold its shares in Seoul Semiconductor (a Korean semiconductor manufacturer) descending its influence to the telecommunications, media and technology sector from 29 (in 2006) to the current 23 percent.
Meanwhile, JCET, the leading electronics packaging service in China, had already started its moves to express interest in acquiring STATS ChipPAC together with rival Chinese bidder Tianshui Huatian Technology Co. According to the latest JCET’s press release, for instance, the company announced that was ready to buy all the shares of STATS ChipPAC with a 22 percent discount on the last traded price, for a total value of $1.8 million deal. The purchase of the 84 percent STAT’s shares hold by Temasek has now been placed on hold in order to allow Chinese institutions to evaluate the legitimacy of the purchase and the parties are waiting for the final announcement. The deal, however, will not include STATS ChipPAC’s Taiwan subsidiaries. All the parties are turning down all the request to leave a comment on the situation.