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Chinese firms appeared to be considering joining the bid to take over Dongbu HiTek Co., a semiconductor arm of South Korea’s cash-strapped Dongbu Group, industry sources said Wednesday.
“A total of five investors have expressed an interest in joining the bid,” a market source with knowledge on the matter said.
Among them, two are reported to be Chinese companies that have been eyeing local tech firms to acquire their technological know-how.
The speculation comes after the Chinese government raise an investment fund worth 120 billion yuan ($19.4 billion) to help foster its chip industry.
Dongbu, South Korea’s 18th-largest conglomerate, and its main creditor, Korea Development Bank, agreed to pick the preferred bidder next month to offload the group’s semiconductor affiliate.
(wone0102@heraldcorp.com)
“A total of five investors have expressed an interest in joining the bid,” a market source with knowledge on the matter said.
Among them, two are reported to be Chinese companies that have been eyeing local tech firms to acquire their technological know-how.
The speculation comes after the Chinese government raise an investment fund worth 120 billion yuan ($19.4 billion) to help foster its chip industry.
Dongbu, South Korea’s 18th-largest conglomerate, and its main creditor, Korea Development Bank, agreed to pick the preferred bidder next month to offload the group’s semiconductor affiliate.
(wone0102@heraldcorp.com)
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Articles by Korea Herald
