Germany plans to approve Chinese takeover of Elmos' chip production - Handelsblatt (updated)

Elmos Semiconductor SE

27/10/2022 11:01

(Adds detail, background)
       BERLIN, Oct 27 (Reuters) - The German government plans
to approve a Chinese takeover of the chip production of
Dortmund-based company Elmos, business daily Handelsblatt
reported on Thursday, citing government sources.
    The economy ministry is examining the sale of Elmos' chip
factory to competitor Silex, a Swedish company that is a
subsidiary of Chinese group Sai Microelectronics, Handelsblatt
reported, adding approval is expected in the coming weeks.
    The expected decision would mean the government would likely
defy advice from the domestic intelligence agency, Handelsblatt
added.
        The economy ministry had no immediate comment when
contacted by Reuters. A spokesperson for Elmos declined to
comment.
    Elmos said last December it had agreed to sell the wafer
factory in Dortmund to Silex Microsystems AB for a net purchase
price of around 85 million euros ($85.28 million).  urn:newsml:reuters.com:*:nASN001ZX6
($1 = 0.9967 euros)
 (Reporting by Christian Kraemer and Matthias Inverardi 
Writing by Paul Carrel, editing by Rachel More)
 ((paul.carrel@thomsonreuters.com))