Malaysia’s Khazanah accepts Dagang NeXchange-led group’s bid for SilTerra

Malaysia’s sovereign wealth fund Khazanah Nasional Bhd has accepted the bid by a consortium led by Dagang NeXchange Bhd (DNeX) for the proposed sale of its wholly-owned wafer foundry SilTerra.  

“Acceptance of the bid is still subject to strict confidentiality with Khazanah and no further details of the bid can be publicly disclosed until the signing of the definitive agreement,” DNeX said in a filing on Monday. 

The filing did not disclose the identity of DNeX’s strategic partner. However, earlier media reports have indicated that DNeX’s strategic partner is China-based PE fund and government-guided fund manager Beijing CGP Investment Co Ltd.

Khazanah-owned SilTerra is a 200mm semiconductor wafer foundry, offering complementary metal-oxide-semiconductor (CMOS) fabrication processes for integrated circuits in advanced logic, mixed-signal and radio frequency and high voltage applications.

Listed on the local bourse, DNeX’s businesses include IT services, cybersecurity, subsea telco services, oilfield services, among others.

Quoting sources, The Edge reported in November last year that four companies including Taiwan’s Foxconn Technology Group, Germany’s X-FAB Semiconductor Foundries AG, and Malaysia-listed companies DNeX and Green Packet Bhd have submitted their bids for the proposed sale.

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