Chinese Unigroup's Stocks Rally on USD2.6 Billion Plan to Buy French Linxens
Dou Shicong
DATE:  Jun 03 2019
/ SOURCE:  yicai
Chinese Unigroup's Stocks Rally on USD2.6 Billion Plan to Buy French Linxens Chinese Unigroup's Stocks Rally on USD2.6 Billion Plan to Buy French Linxens

(Yicai Global) June 3 --  Shares of Unigroup Guoxin Microelectronics soared after the unit of  China's Tsinghua Unigroup told that it is becoming the main cluster for  the state-controlled chipmaker's semiconductor business, sealed in a  deal worth CNY18 billion (USD2.6 billion).

Unigroup Guoxin's share price [SHE: 002049] rose by the daily limit of 10 percent today to CNY49.6 (USD7.20). 

The firm announced its plans to acquire Unigroup Liansheng Technology, another unit of Tsinghua Unigroup, whose main asset is French smart chip components provider Linxens, the Tangshan-based buyer said in a statement. 

The acquisition will  improve the Beijing-headquartered parent's technical reserves and expand  its businesses, the statement added. 

Unigroup Liansheng made  its largest overseas asset acquisition by buying Linxens for USD2.6  billion last year, Caijing Magazine reported earlier. Guyancourt-based  Linxens has 3,000 employees and it posted nearly EUR500 million (USD558  million) in operating income last year.

Tsinghua Unigroup is  controlled by China's Ministry of Education and the firm functions under  Beijing's Tsinghua University. The company's two semiconductor units,  including Unisoc Communications, make mobile phone and security chips. 

Editor: Emmi Laine 

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Keywords:   Guoxin Micro,Linxens,Unigroup,Tsinghua Unigroup,Semiconductors,Chips