German government withdraws approval for Aixtron takeover
The German Ministry of Economics has withdrawn its clearance certificate for the takeover the German semiconductor deposition firm Aixtron by Grand Chip Investment GmbH, a 100 percent indirect subsidiary of Fujian Grand Chip Investment Fund LP.
Fujian Grand Chip Investment Fund is a Chinese investment fund; 51 percent of which is held by the Chinese businessman Zhendong Liu and 49 percent by Xiamen Bohao Investment Ltd.
Back in May, the companies entered into a â‚¬670 million takeover agreement under which Aixtron shareholders would be offered â‚¬6.00 in cash per each ordinary share.
Aixtron has not given a reason for the reversal of the decision, but commentators in the press have highlighted growing concerns in Germany about the acquisition of cutting-edge technologies by Chinese firms and subsequent loss of knowhow and high-tech jobs.