Chinese chip company Sai MicroElectronics clarifies German acquisition

Chinese chip company Sai MicroElectronics Inc said it has not received any official decision or document so far from German authorities about its wholly-owned subsidiary's acquisition plan of an automobile chip manufacturing line in Germany.

The comments came after the German media quoted sources stating that the German government plans to approve Silex Microsystems AB, a Sweden-based wholly subsidiary of Sai MicroElectronics, to acquire Germany company Elmos Semiconductor SE's auto chip line in Dortmund in the upcoming weeks.

Sai MicroElectronics said in a statement on Thursday that up to the present, neither the company nor its domestic and foreign subsidiaries have received any official decision or document from Germany's Federal Ministry for Economic Affairs and Climate Action regarding the approval result of foreign direct investment in this acquisition transaction.

All information related to this acquisition transaction shall be subject to the final decision of the German government and the official announcement document of the company, Sai MicroElectronics said.

Despite the clarification statement, Sai MicroElectronics' shares，which are listed in Shenzhen, surged as much as nearly 11 percent on Friday morning before the rise narrowed to about 7 percent.