Nexperia Newport, which have been ordered by the UK Government to sell its microchip facility in South Wales on national interest and security grounds, have appointed US advisory firm ATREG to advise on a possible sale of the facility.
After a protracted review of the acquisition of was previous known as Newport Wafer Fab, the UK Government last year ruled that Amsterdam-based Nexperia - which is owned by Chinese and Shanghai-listed tech company Wingtech - divest at least a 86% stake in the business. The UK Government used the National Security and Investment Act for its ruling.
Nexperia said at the time it would seek to overturn the decision via a judicial review, a process that it is still committed to after strongly rejecting the national security concerns of the UK Government.
