An amount of $800 million has been invested into Tsinghua Unigroup by Foxconn Technology Group. Tsinghua Unigroup is the heavily indebted Chinese chip conglomerate that is undergoing restructuring.
known as China’s semiconductor champion, Unigroup has been undergoing a string of bankruptcy reorganizations since last year.
Unigroup said earlier this week that it is now fully owned by a Beijing-based company, which was formed by a consortium led by investment companies.
In a filing to the Taiwan Stock Exchange, Foxconn mentioned that it has invested 5.4 billion yuan, or around $798 million, in Unigroup through Foxconn’s Shanghai-listed subsidiary Foxconn Industrial Internet Co. It described Unigroup as “a leading technology company in China,” with a business portfolio including chip designing and server manufacturing.
Foxconn, formally known as Hon Hai Precision Industry Co., said its investment into Unigroup was made through several layers of investment vehicles. A company linked to Foxconn took a 20.04% stake in the firm that now fully owns Unigroup, Foxconn’s filing showed.
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