Rumor: SMIC To Sell 20% Stake To Private Equity Fund

May 21, 2008 | Print | Email Email | Comments | Category: Business





    According to Hong Kong media, an undisclosed American private equity fund will invest US$600 million to acquire over 20% of the stake of Semiconductor Manufacturing International Corporation (SMI) and the two sides will sign a formal agreement in late June.

    In late March, SMIC issued an announcement in which it said that it was negotiating with a strategic investor which might purchase its shares or convertible tools, or even acquire a considerable part of its stakes.

    Later in early April, SMIC appointed Shirley Lin, former partner and managing director of Goldman Sachs Group who was known for her rich experience in direct investment and enterprise financing and, as its chief strategic consultant, a move which was regarded by many as planning for a strategic investment.

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