The UK Government had delayed a decision on whether to block the takeover of the UK’s biggest microchip maker by a Chinese-owned company on national security grounds.
Business Secretary Kwasi Kwarteng, having announced a review of the acquisition of Newport Wafer Fab (NWF) last month under the National Security and Investment Act, has extended the process by further 45 working after the initial 30 day assessment period expired on Tuesday.
The plant, based in Newport, was acquired Amsterdam-based Nexperia, whose ultimate owners is Chinese firm and Shanghai-listed Wingtech Technology, last year.
