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The Wall Street Publication > Blog > Tech > Chinese Chip Conglomerate Gains State-Backed Investment
Tech

Chinese Chip Conglomerate Gains State-Backed Investment

Editorial Board Published December 10, 2021
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Chinese Chip Conglomerate Gains State-Backed Investment
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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.

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