The UK government has exercised its powers under the UK’s national security and investment regime to unwind Chinese-owned Nexperia’s acquisition of Newport Wafer Fab (“NWF”), a semiconductor wafer factory located in Newport, Wales. This is the third prohibition under this (new) regime and the first transaction to be unwound. Nexperia’s purchase of an 86% shareholding interest in NWF (taking its shareholding to 100%) closed in July 2021. The Prime Minister at the time responded to political pressure by asking the National Security
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