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Mysterious firm Lotcap seeks to take controlling stake in Arm China

May 24, 2022
Source: dealstreetasia.com dealstreetasia.com
News Snapshot:
Chip designer Arm Ltd .’s China joint venture could be acquired by a firm whose origin is shrouded in mystery, in the latest chapter of a two-year boardroom struggle with ousted Chairman and CEO Allen Wu. In a statement published last week, the firm in question — Lotcap Group — said that it had signed a letter of intent to buy a 51% stake in Arm China from Chinese shareholders Amber Leading (Hong Kong) Ltd., Ningbo Meishan Bonded Port Area Anchuang Growth Equity Investment Partnership, and Arm Ecosystem Holdings (Hong Kong) Ltd.
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Tags: ARM | CEO | chairman | China | Chinese | chip | Hong Kong | investment | IT | joint venture | KONG | Ningbo | partnership

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