美國阻止中國對晶元設備商的收購

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US blocks Chinese acquisition of chipequipment maker

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美國阻止中國對晶元設備商的收購

Updated: 2018-02-23 23:34

US semiconductor testing company XcerraCorp said that a US national security panel had blocked its $580 million saleto a Chinese state-backed semiconductor investment fund, the latest such dealto be thwarted.

Xcerra said on Thursday that "despiteour best efforts to secure approval, it has become evident that" theCommittee on Foreign Investment in the US (CFIUS) wouldn"t clear thetransaction. CFIUS scrutinizes deals for potential national security concerns.

美國半導體測試公司Xcerra說美國國家安全小組已經阻止他們向中企半導體投資基金出售價值5億8000萬美元的交易，最新的交易被阻撓了。Xcerra在周四說「雖然我們盡了最大努力確保許可，但是（否決）還是成了事實」，美國外資投資委員會沒有通過交易。他們徹查可能引起國家安全隱患的交易。

The acquisition of Norwood,Massachusetts-based Xcerra by Hubei Xinyan was seen as a key test of theability of Chinese firms to acquire US technology assets, because the companydoes not manufacture chips itself. Instead, it provides testing equipment usedin the production of semiconductors.

湖北鑫炎收購馬薩諸塞的Norwood,Xcerra公司被看作是眾多中國企業收購美國科技資產的一個關鍵的能力測試，因為公司自己不生產晶元。取而代之，它提供生產半導體時所用的測試設備。

The deal"s demise comes as the Committee onForeign Investment in the United States (CFIUS) has become increasing skepticalof Chinese acquisitions of US companies following the inauguration o PresidentDonald Trump a year ago.

"While we are disappointed that wewere not able to receive approval from CFIUS on this transaction, Xcerra andXinyan are discussing alternatives to pursue opportunities in new and existingmarkets in China," Xcerra CEO Dave Tacelli said in a statement.

這樁交易隨著一年前總統特朗普就職後對中企收購美國公司的懷疑論的升級，被美國外資投資委員會扼殺了。「我們很遺憾未能獲得外資投資委員會的許可，Xcerra和鑫炎一直在討論尋求中國現有市場和新市場的可能性。」Xerra的首席執行官 DaveTacelli在聲明中說。

CFIUS blocked the deal because it wasconcerned that Xcerra equipment was used by chip manufacturers that were partof the supply chain to the US government and military, according to peoplefamiliar with the matter who asked not to be identified discussing confidentialdeliberations.

A Treasury spokesman did not respond to arequest for comment on behalf of CFIUS.

外資投資委員會組織了該項交易因為它擔心Xcerra用於晶元製造商的設備有部分屬於美國政府和軍隊的供應鏈，據不願透露身份、熟知此事的人私下裡評議道。

財政部發言人沒有回應代表外資投資委員會的評論。

Xcerra had announced the deal in April2017. Xinyan does not have to pay Xcerra a breakup fee as a result of CFIUSblocking the deal, according to their merger contract. Such breakup fees arecustomary in deal negotiations.

Xinyan is a limited partnership formed forthe merger. Technology investor Unic Capital Management Co, an affiliate ofSino IC Capital, is the controlling shareholder of Xinyan"s general partner.

Xcerra在2017年四月宣布交易。由於外資投資委員會阻止了交易，鑫炎按照併購合同沒有付分手費。這種分手費在交易協議中是有慣例的。

鑫炎是一個有限合夥公司。技術投資是Unic資本管理公司，一個隸屬於中國IC資本的公司，該公司是鑫炎控股人。

CFIUS" stance has toughened as Trump seeksto put pressure on China to help tackle North Korea"s nuclear ambitions and bemore accommodative on trade and foreign exchange issues. Unfilled politicalvacancies at several government departments and agencies have also made it moredifficult for CFIUS to approve deals.

CFIUS has been traditionally wary ofsemiconductor deals with Chinese entities, because it is concerned about thetransfer of potentially sensitive technology.

Canyon Bridge Capital Partners LLC, aU.-based private equity firm funded by the Chinese government, saw its $1.3billion acquisition of US chip maker Lattice Semiconductor Corp collapse lastyear after it was blocked by CFIUS, a rejection subsequently upheld by Trump.

外資投資委員會的立場變得頑固是因為特朗普試圖向中國施壓以解決北朝鮮核危機，並能在貿易和外匯問題上變得更適應。一些政府部門和機構還有空缺的政黨席位也使得外資投資委員會批准交易變得更難。

外資投資委員會在與中國企業半導體交易中一向很謹慎，因為它擔心可能敏感的技術轉移。Canyon Bridge資本有限責任公司，一家有著美資背景在中國成立的私募，看到美國晶元製造商 Lattice 半導體公司13億美元的交易，在去年因外資投資委員會為支持特朗普而導致交易受阻後倒閉。

Beijing-based Naura MicroelectronicsEquipment Co Ltd completed a deal in December to buy US semiconductormanufacturing equipment company Akrion Systems LLC, a rare instance of CFIUSapproving such an acquisition. However, that deal was only for $15 million.

坐落於北京的北方華創微電子設備有限公司在十二月完成了與美國半導體生產設備公司Akrion系統有限責任公司的交易，這是極為罕見的外資投資委員會批准的類似收購案。但那筆交易只有1500萬美元。

REUTERS

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