German Ministry of Economic Affairs spokesman Wagner said on the 3rd that although US President Barack Obama signed an executive order on the 2nd to prevent Chinese companies from acquiring German company Ai Siqiang, this will not affect the ongoing review by Germany. Germany will continue to acquire The case was reviewed for “no presupposition conclusionsâ€.
Wagner said that the two sides are conducting two "completely independent" reviews, and even if the US draws conclusions on the review, it will not have any impact on the German review.
According to reports, the US Treasury Department issued a statement on the 2nd that Obama has issued a presidential decree prohibiting China's Fujian Hongxin Fund from acquiring Ai Siqiang and its US branches, saying the deal "may threaten US national security." The statement said that Obama’s decision was based on the US’s “Foreign Investment Commission in the United States†assessment.
Ai Siqiang is a German semiconductor equipment supplier and is currently suffering from losses due to poor management. In May of this year, China Fujian Hongxin Fund expressed its intention to acquire Ai Siqiang, and officially issued an offer document at the end of July, with an acquisition amount of approximately 670 million euros. The German government approved the acquisition on September 8. After the acquisition of the invitation on October 21, Fujian Hongxin Fund paid the required amount the same day. On October 24, Ai Siqiang issued a statement saying that the company had received a notice from the German Ministry of Economic Affairs that the government had withdrawn the approval of the acquisition and decided to re-examine it.
According to the German media, the German government withdrew its approval and re-examined the acquisition because the US imposed pressure on Germany on the grounds of "security."
A spokesman for the Chinese Ministry of Foreign Affairs said on the 2nd that the acquisition was a normal commercial merger and acquisition case and should be implemented and grasped in accordance with commercial principles and market rules. China does not want the outside world to give too much political interpretation of this normal business activity, and it should not be politically disturbed.
Wuxi Lerin New Energy Technology Co.,Ltd. , https://www.lerin-tech.com