Chinese semiconductor company Nexperia obtained approval from the Dutch government to acquire the electronic chip company New Energy.
This approval comes after a review of the deal in light of Dutch national security considerations.
Bloomberg News reported sources stating that the Dutch government does not see Nexperia’s acquisition of New Energy’s technology as a threat to Dutch national security, as it is not dual-use technology for both civilian and military purposes. This step indicates the Netherlands’ continued openness to Chinese investments.
In early 2023, Dutch authorities invoked a recently enacted law to scrutinize the acquisition of the Dutch-based New Energy by the Chinese semiconductor company, Nexperia. This new legislation empowers the Dutch government to veto acquisitions of Dutch companies by foreign entities if such transactions pose a threat to national security.
New Energy produces small chips that help companies power their devices with the energy they collect. Nexperia purchased it in November 2022.
In 2018, during the same time when Wingtech Technology bought the Dutch company for $3.5 billion, Nexperia was sold to Chinese investors.
A spokesperson for the Dutch Ministry of Economic Affairs declined to comment on the news and said a formal statement would be issued later.
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