The German authorities have blocked an agreement to purchase the Chinese company Sai Group of microchips and semiconductors from the German manufacturer Elmos. This was announced today, November 10, reports TASS.
“Due to the ban, the purchase transaction that was originally about to close cannot be continued and completed. The company expresses its deep regret in relation to the final decision of the Ministry of Economy and Climate Protection of Germany “, Sai Group said in a statement.
The document shows that the transaction amount was estimated at € 84.5 million. The company was interested in the Elmos automotive chip production line, located in the city of Dortmund, in the federal state of North Rhine-Westphalia.
On November 9, the German government banned the sale of the Elmos plant to the Swedish company Silex Microsystems AB, a subsidiary of the Chinese group Sai. Earlier, Bloomberg, citing sources, had reported that Washington had asked Germany and other European countries not to allow China to acquire controlling stakes in strategically important companies.
