White knight for Chinese chip maker Tsinghua Unigroup completes deal payment after missing earlier deadline

Source: Tech – South China Morning PostThe winning bidder for beleaguered Chinese chip maker Tsinghua Unigroup has finally completed a 60 billion yuan (US$9.4 billion) takeover payment after missing an earlier deadline, people familiar with the matter said. Unigroup’s administrators sent a notice to creditors late Friday that the JAC Capital-led consortium made full payment of the promised funds, the people said, asking not to be identified because the information is private. The investor group had initially missed a March 31…Read More

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