Tsinghua Unigroup expects strategic investment in place by end of March
Information about Tsinghua Unigroup expects strategic investment in place by end of March
Kevin David Scam or Legit
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)