Tsinghua Unigroup to invest in two Taiwan tech firms

According to separate statements, Unigroup will invest NT$56.8 billion ($1.7 billion) in Siliconware Precision Industries (SPIL) and another NT$11.97 billion in ChipMOS Technologies.

It has agreed to purchase 1.02 billion new shares issued by SPIL at NT$55.00 apiece, which represents a 20.9% premium over the last closing price before the deal was announced. Separately, Unigroup will buy 299.3 million shares of ChipMOS Technologies at NT$40.00 each. It will own approximately 25% of each company following the deals.

Both transactions are subject to shareholder and regulatory approvals. The companies said they will use the new capital to invest and expand market share in mainland China and globally.

The deals come after Unigroup announced in October that it had agreed to pay $600 million for a 25% stake in Taiwan's Powertech Technology, becoming the largest shareholder in the chip testing and packaging company. This transaction is also pending approval from Powertech's shareholders and local regulators.

Unigroup wants to become the world's third-largest chipmaker. To achieve this goal, the Chinese company has pledged to spend RMB300 billion ($47 billion) over the next five years, Weiguo Zhao, chairman of Unigroup, outlined his objectives in a recent interview with Reuters.

Taiwan is an attracitive place for the Chinese company to look for investment targets in the semiconductor business, although it faces tough regulatory scrutiny. 

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