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Chinese Acquisition of Semiconductor Firm Poses Security Risks, US Treasury Warns

September 1, 2021
Source: thedailyreformer.com thedailyreformer.com
News Snapshot:
The U.S. Treasury Department said the sale of Magnachip Semiconductor Corp. to a Chinese private equity firm poses “risks to national security,” as Chinese investments in critical technologies meet with enhanced U.S. scrutiny. Magnachip, a South Korean producer for display and power chips, sold its controlling stake in late March to Chinese private equity firm Wise Road Capital in an all-cash deal worth about $1.4 billion. The Committee on Foreign Investment in the United States (CFIUS), the U.S. interagency panel overseen by the Treasury Department that scrutinizes foreign deals for national security implications, sent a letter to Magnachip on Aug....
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Tags: acquisition | capital | cash | CFIUS | Chinese | chips | commission | Committee on Foreign Investment in the United States | display | foreign investment | investment | IT | Korean | merger | national security | panel | power | president | private equity | SEC | Securities and Exchange Commission | Security | semiconductor | South Korea | United States

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