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Germany stalls Chinese takeover of tech organisation Aixtron

  • October 24, 2016

Germany’s Aixtron pronounced a economy method had cancelled a supposed “clearance certificate” it released final month that paved a approach for a €670 million takeover by China’s Grand Chip Investment to go ahead.

The method will now free a examination of a “proceedings in tie with a takeover offer by Grand Chip Investment”, Aixtron pronounced in a statement.

Aixtron combined that it had been sensitive of a preference on Friday.

The astonishing pierce comes during a time of regard over a fibre of Chinese takeovers in Germany, that has stirred German Economy Minister Sigmar Gabriel to titillate Brussels to defense pivotal EU industries from unfamiliar investors.

Gabriel was quite dumbfounded by apparatus hulk Midea’s squeeze of heading German robotics organisation Kuka in August, that fed into fears of high-end egghead property, record and expertise vacating for China.

A mouthpiece for a economy method reliable that capitulation for a Aixtron understanding had been cold tentative review, though declined to strew light on a reasons behind a move.

She pronounced she couldn’t yield any serve information since “the record are still ongoing”.

If a outcome of a examination is disastrous a understanding could in speculation be cancelled altogether, she told reporters in Berlin.

Investors in Frankfurt did not respond good to a news, described by researcher Harald Schnitzer of DZ Bank as “a bad surprise”, with shares in Aixtron descending scarcely 8 percent to €5.34 around 1130 GMT.

Gabriel is scheduled to transport to China and Hong Kong in early November.

The ministry’s mouthpiece pronounced he was due to attend an Asia-Pacific discussion and would reason talks with comparison officials there though she could not contend either Aixtron would be on a agenda.

Article source: https://www.thelocal.de/20161024/germany-stalls-chinese-takeover-of-tech-firm-aixtron

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