ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
China debt crunch

Unigroup rescue plan opposed by chipmaker's co-owner

Top shareholder defends deal to 'make contributions' to national goals

Tsinghua Unigroup Chairman Zhao Weiguo, seen here in 2015, objects to the proposed restructuring deal for the Chinese state-owned tech group.   © Reuters

BEIJING/HONG KONG -- The co-owner of China's Tsinghua Unigroup is fighting a proposed rescue plan for the debt-ridden semiconductor producer, warning that it could result in the loss of 73.4 billion yuan ($11.5 billion) in state-owned assets.

Beijing Jiankun Investment Group, which owns 49% of Unigroup, has objected to the restructuring plan offered by a consortium led by Beijing Jianguang Asset Management and Wise Road Capital. The deal involves an injection of 60 billion yuan from the strategic investors.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more