chinabacked fund shunned by trump to buy british chipmaker
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

China-backed fund shunned by Trump to buy British chipmaker

Arab Today, arab today

Arab Today, arab today China-backed fund shunned by Trump to buy British chipmaker

the Canyon Bridge office in Beijing
New York - Arab News

Canyon Bridge Capital Partners, the China-backed buyout fund that was barred last week by US President Donald Trump from buying a US chipmaker, said it would purchase British chip designer Imagination Technologies Group.
The all-cash £550 million (SR2.79 billion) deal to buy Imagination showed Canyon Bridge remained focused on investing in Western chipmakers after its $1.3 billion deal to buy Lattice Semiconductor in the US was blocked over US natural security concerns.
Canyon Bridge said on Friday it had agreed to pay 182 British pence per Imagination share, a near 42 percent premium to Imagination’s closing price on Friday. But the purchase is contingent on Imagination divesting US chip designer MIPS, which Imagination had bought in 2013, the two companies said in a joint London stock exchange filing, adding that the takeover would not result in job cuts.
Keeping MIPS would subject Canyon Bridge’s purchase of Imagination to a review by the Committee on Foreign Investment in the US (CFIUS), the government panel which rejected its acquisition of Lattice.
Imagination said it had agreed to sell MIPS for $65 million to Tallwood Venture Capital, an investment firm with offices in Palo Alto, California, and Wuxi, southern China. It was not immediately clear whether the divestment would be subject to a CFIUS review.
Canyon Bridge was founded with capital originating from China’s central government and had indirect links to Beijing’s space program. It currently manages about $1.5 billion on behalf of Yitai Capital, a Chinese state-owned company, according to Friday’s statement.
Imagination, whose graphics power Apple’s iPhone, licenses graphics and video-processing technology to semiconductor companies.

Source: Arab News

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

chinabacked fund shunned by trump to buy british chipmaker chinabacked fund shunned by trump to buy british chipmaker

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

chinabacked fund shunned by trump to buy british chipmaker chinabacked fund shunned by trump to buy british chipmaker

 



GMT 06:14 2017 Wednesday ,23 August

HM King thanked by Saudi king

GMT 20:52 2017 Thursday ,30 March

Donia Abdel Aziz creates new account on "Instagram"

GMT 06:43 2015 Tuesday ,08 December

Iran swine flu outbreak kills 33 in 3 weeks

GMT 14:15 2017 Saturday ,09 December

Israel strike kills 2 Palestinians

GMT 12:22 2017 Thursday ,02 February

European stocks diverge on Fed, earnings

GMT 13:59 2017 Thursday ,23 November

Heidy underlines works like “Seventh Neighbor”

GMT 21:59 2016 Thursday ,06 October

350 German tourists arrive at Luxor

GMT 13:46 2017 Thursday ,19 October

Samsung's revamped Bixby takes on Amazon Alexa

GMT 18:47 2017 Friday ,25 August

Jakarta remains flood alert until March

GMT 03:19 2017 Saturday ,18 November

Apple pushes back release of HomePod speaker to 2018

GMT 12:25 2018 Wednesday ,17 October

Khashoggi family denies issuing statement

GMT 18:24 2018 Wednesday ,05 September

BACA president meets Diyar Al-Muharraq CEO

GMT 09:54 2016 Saturday ,27 August

Apple issues update after cyber weapon captured

GMT 09:29 2015 Thursday ,26 March

Yemen shuts major sea ports due to conflict

GMT 07:20 2017 Sunday ,24 December

Pope Francis is Time person of the year

GMT 04:16 2017 Tuesday ,02 May

Global gold prices fall
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday