Deadline passes with no Stats-JCET deal; exclusive talks to go on

Singapore

EXCLUSIVE talks over the potential sale of Stats ChipPAC to China's Jiangsu Changjiang Electronics Technology Co (JCET) may continue until Dec 20 after no deal was reached by the original deadline on Sunday.

JCET, which has announced plans to make a US$780 million offer for the Singapore chip assembly and testing company, had until 5pm on Nov 30 to negotiate terms with Stats ChipPAC and Stats ChipPAC controlling shareholder Singapore Technologies Semiconductors. The discussions have been and will continue to be on an exclusive basis.