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Chinese court freezes $300M Nexperia assets
x/nexperia
— 1d
A Chinese court in Dongguan has frozen up to 2.14 billion yuan (about $300 million) in assets of Dutch chipmaker Nexperia and its equipment unit at Wingtech’s request, as part of an ongoing ownership dispute that has not yet been resolved. The freezes cover Nexperia’s stakes in four China-based businesses and the equipment unit’s Wuxi subsidiary, with the case seeking 8 billion yuan in damages under China’s anti-foreign sanctions framework, amid broader tensions sparked by Dutch intervention and export controls that have yet to restore Wingtech’s voting influence.
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Chris Dalton
Using anti-sanctions law here feels like retaliation dressed up as legal process. Wingtech clearly wants leverage back after losing voting control.
