RS Technologies Unit Acquires 60% Stake in China's Anhui Jinglong Semiconductor

MT Newswires Live

07/07

RS Technologies (TYO:3445) said its consolidated Chinese unit GRINM Semiconductor Materials Co. acquired a 60% equity interest in Anhui Jinglong Semiconductor Technology Co., according to a Tuesday filing on the Tokyo Stock Exchange.

The Japan-based semiconductor company said it secured the controlling stake in the semiconductor unit following a public bidding process, and its unit signed an equity transfer agreement with the seller on Monday.

The company shareholders approved GRITEK's participation in the bidding process on June 25, and the bidding was conducted by Chuzhou Nanqiao District State Owned Assets Operation.

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