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Tsinghua Unigroup expects strategic investment in place by end of March -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – The Tsinghua Unigroup logo is seen at its Beijing office on November 15, 2015. REUTERS/Kim Kyung-Hoon/File Photo

BEIJING, (Reuters) – A strategic investment in the amount of 60 billion yuan ($9.42 trillion) was made by Tsinghua Unigroup to support its chip conglomerate. This report came from the 21st Century Business Herald on Wednesday.

The debt-laden firm had announced earlier that the vote on the pending investments would be held on Dec. 29,

JAC Capital and Wise Road Capital are the investors.

According to state media, 60 billion yuan of cash was part of the restructuring plan of Tsinghua Unigroup.

($1 = 6.3718 renminbi)

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