CHONGQING, China -- Fujian Grand Chip Investment Fund has dropped plans to purchase German semiconductor equipment maker Aixtron, as authorities rejected the deal over security concerns.
The Chinese technology investment fund said in May that it intended to buy Aixtron, planning to pay 670 million euros ($706 million at current rates) to obtain all shares in the company through a German subsidiary. Aixtron's top brass had accepted. But as Fujian announced the failure of the deal, the fund also said it would relinquish its Aixtron stock.
