SHANGHAI, Dec. 22, 2014 -- Semiconductor Manufacturing International Corporation ("SMIC"; "The Company"; NYSE: SMI; SEHK: 981), China's largest and most advanced semiconductor foundry announces that on 22 December 2014 (after trading hours), SilTech Shanghai, an indirectly wholly-owned subsidiary of the Company, JCET and the IC Fund entered into the Co-investment Agreement to form an investment consortium in connection with the Proposed Acquisition of STATS ChipPAC. The consideration payable by SilTech Shanghai is the RMB equivalent of US$100 million (subject to exchange rate adjustments and the terms of the Co-investment Agreement).
The Company further announces that on 22 December 2014 (after trading hours), in connection with the Co-investment Agreement, SilTech Shanghai, JCET and Xinchao Group entered into the Investment Exit Agreement, pursuant to which JCET agreed to grant to SilTech Shanghai a put option to sell the shares it acquires pursuant to the Co-investment Agreement.
This announcement is made by the Company pursuant to the inside information provisions under Part XIVA of the SFO and Rule 13.09(2)(a) of the Listing Rules.
As the completion of the Co-investment Agreement is subject to the satisfaction or waiver of a number of conditions, the Co-investment Agreement may or may not proceed. Further, even if the Co-investment Agreement is completed, the Proposed Acquisition by the investment consortium may or may not proceed. There has been no definitive or binding agreement entered into as at the date of this announcement in relation to the Proposed Acquisition and there is no certainty that the Proposed Acquisition will proceed or be completed. Shareholders and potential investors of the Company are advised to exercise caution when dealing in the Shares.
("SMIC"; NYSE: SMI; SEHK: 981) is one of the leading semiconductor foundries in the world and the largest and most advanced foundry in mainland China. SMIC provides integrated circuit (IC) foundry and technology services at 0.35-micron to 28-nanometer. Headquartered in Shanghai, China, SMIC has a 300mm wafer fabrication facility (fab) and a 200mm mega-fab in Shanghai; a 300mm mega-fab in Beijing and a majority owned 300mm fab for advance nodes under development; and a 200mm fab in Tianjin and Shenzhen. SMIC also has marketing and customer service offices in the U.S., Europe, Japan, and Taiwan, and a representative office in Hong Kong. For more information, please visit www.smics.com.