Home BUSINESS Tsinghua Unigroup expects strategic investment in place by end of March

Tsinghua Unigroup expects strategic investment in place by end of March

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December 29, 2021

BEIJING (Reuters) – A strategic investment of 60 billion yuan ($9.42 billion) will be in place for Chinese chip conglomerate Tsinghua Unigroup before March 31, a report by the local 21st Century Business Herald said on Wednesday.

The debt-laden company had earlier announced that a vote on the pending investment would take place on Dec. 29.

Investors JAC Capital and Wise Road Capital will inject

60 billion yuan in cash as part of a restructuring plan for Tsinghua Unigroup, state media reported in December.

($1 = 6.3718 Chinese yuan renminbi)

(Reporting by Sophie Yu, Tony Munroe; Editing by Christian Schmollinger)