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

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Published Tue, Dec 30, 2014 · 09:50 PM

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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.

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