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Herbert Smith Freehills and Drew & Napier have advised Chinese semiconductor producer Jiangsu Changjiang Electronics Technology (JCET) on its proposed S$1 billion ($740 million) takeover offer of Singapore-listed semiconductor company STATS ChipPAC.

To acquire STATS ChipPAC, JCET formed a consortium with Semiconductor Manufacturing International Corporation and China's National Integrated Circuit Industry Investment Fund to acquire.

STATS ChipPAC is a leading provider of advanced semiconductor packaging and test services, headquartered in Singapore with manufacturing facilities in South Korea, Singapore, China and Taiwan. It is currently ultimately controlled by Temasek Holdings Inc.

The Herbert Smith Freehills team was led by Singapore corporate partner Michael Walter, working with partner Nicola Yeomans. The team was assisted by the firm's Asia head of competition Mark Jephcott on antitrust aspects of the transaction; Hong Kong banking partner Alex Aitken on financing aspects, and Singapore capital markets partner Siddhartha Sivaramakrishnan on debt capital markets issues.

Drew and Napier advised JCET on Singapore law issues.

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