Jiangsu Changjiang poised to buy STATS ChipPAC for US$1.8b: reports

STATS ChipPAC is expected to announce a deal with Jiangsu Changjiang, valuing the Singapore group at an enterprise value of US$1.8 billion.

Newswires reported on Thursday that controlling shareholder Temasek Holdings and STATS ChipPAC will enter into exclusive talks with the China group and plan to make a voluntary general offer in late November. There will be an undertaking by Temasek to tender its 83.3 per cent stake.

STATS ChipPAC was suspended from Singapore trading on Nov 3, the same day China group's shares were halted in Shanghai.