China's Jiangsu Changjiang to spearhead US$780m bid for STATS ChipPAC

Singapore

A CONSORTIUM led by China's Jiangsu Changjiang Electronics Technology (JCET) on Tuesday unveiled a pre-conditional voluntary general offer for mainboard-listed STATS ChipPAC. Subject to fulfilment of specified pre-conditions, JCET, through subsidiary JCET-SC (Singapore), intends to make a US$780 million takeover bid for STATS ChipPAC with a view to taking it private.

STATS ChipPAC, 84 per cent-owned by Temasek Holdings, is the fourth largest provider of semiconductor testing and assembly services by sales.