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SG chipmaker UTAC planned sale draws Sinar Mas, CTL’s interest
Wise Road Capital is considering the sale of UTAC Holdings, a Singapore-based semiconductor assembly and testing company.
Potential bidders include Indonesian conglomerate Sinar Mas, China’s TCL Technology, and chipmaker United Nova Technology.
Discussions are still at an early stage and may not result in formal offers.
Wise Road acquired UTAC in 2020 and is reportedly seeking about US$3 billion.
UTAC, founded in 1997, operates factories in Singapore, China, Indonesia, and Thailand.
It has a sales network focused on the US, Europe, and Asia, with sales offices in the US.
Wise Road, which also invests in automotive electronics and robotics, was placed on a US entity list last year due to its links with China’s chip industry.
🔗 Source: Bloomberg
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