21st May 2007

STATS ChipPAC shareholders resist private equity buyout

In the recent spate of takeovers by the private equity world and at a time when the chip industry is undergoing consolidation, a blip has occurred – Temasek Holdings’ wholly owned subsidiary, Singapore Technologies Semiconductors Pte Ltd. (STSPL) has failed to complete its attempted buyout of test and assembly provider STATS ChipPAC Ltd. STSPL now has a majority stake of 83.1 percent in the company, falling short of the 90% required to make STATS ChipPAC completely private

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