The UK Department for Business, Energy and Industrial Strategy orders a Chinese firm to unwind its acquisition of a Welsh semiconductor wafer factory on national security grounds, reversing its original position (Nexperia / Newport Wafer Fab)

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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Authors

  • Orrick, Herrington & Sutcliffe (London)
  • Orrick, Herrington & Sutcliffe (London)
  • Orrick, Herrington & Sutcliffe (London)

Quotation

Saira Henry, Douglas Lahnborg, Matthew G. Rose, The UK Department for Business, Energy and Industrial Strategy orders a Chinese firm to unwind its acquisition of a Welsh semiconductor wafer factory on national security grounds, reversing its original position (Nexperia / Newport Wafer Fab), 16 November 2022, e-Competitions November 2022 - II, Art. N° 109682

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