FILE PHOTO: The logo of Tsinghua Unigroup is seen in its office in Beijing, China, November 15, 2015. REUTERS/Kim Kyung-Hoon/File Photo
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)
Source: One America News Network
