ChipMOS forms JV with Tsinghua Unigroup
ChipMOS and Tsinghua Unigroup announced an agreement to form a joint-venture and to mutually terminate Tsinghua Unigroup's earlier private placement plan. Under the joint-venture agreement, ChipMOS, a wholly owned subsidiary of ChipMOS Taiwan, will sell 54.98% of the equity interests of its wholly owned subsidiary, ChipMOS, to a group led by Tsinghua Unigroup, for approximately $77M. After the consummation of such equity interest transfer, ChipMOS BVI will own 45.02% of the equity interests of ChipMOS Shanghai, Tsinghua Unigroup through its subsidiary, Tibet Unigroup Guowei Investment Co., will own 48%, and other strategic investors, including a limited partnership owned by ChipMOS Shanghai's employees will own 6.98%. The investment will be used to expand the capacity of and services offered by ChipMOS Shanghai. The joint-venture agreement has been approved by the Board of Directors of ChipMOS Taiwan.