White knight for Chinese chip maker Tsinghua Unigroup completes deal payment after missing earlier deadline

  • The JAC consortium was picked as the winner of an auction for China’s debt-ridden semiconductor giant, whose rescue was viewed as a national security issue
  • The investor group had initially missed a March 31 deadline to transfer the remaining 14.6 billion yuan of the agreed price tag for the chip business

In this file photo taken May 17, 2018, a microchip developed by Tsinghua Unigroup is seen through a microscope. Photo: AP

The winning bidder for beleaguered Chinese chip maker Tsinghua Unigroup has finally completed a 60 billion yuan (US$9.4 billion) takeover payment after missing an earlier deadline, people familiar with the matter said.

Unigroup’s administrators sent a notice to creditors late Friday that the JAC Capital-led consortium made full payment of the promised funds, the people said, asking not to be identified because the information is private.

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