Tsinghua Unigroup Co., the heavily indebted Chinese chip conglomerate, said a consortium led by two state-backed semiconductor venture-capital firms would become its strategic investor.
The deal is the latest step in Unigroup’s efforts to restructure its assets after a creditor sought its bankruptcy in July. Unigroup, once hailed as China’s semiconductor champion, built its business empire over the last decade through a series of acquisitions, but defaulted on billions of dollars worth of bonds over the past year.
