Wingtech rejects Nexperia restructuring, cites ‘discrimination’ towards Chinese investors
Shanghai-listed Wingtech Technology has rejected a restructuring proposal under which it would lose control of Dutch chipmaker Nexperia’s assets outside China, condemning the plan as an “expropriation” driven by discrimination. The stand-off deepens a year-long dispute between Wingtech and Dutch authorities, as the company faces an impending delisting deadline at home, while Dutch Prime Minister…
Shanghai-listed Wingtech Technology has rejected a restructuring proposal that would relinquish control of Dutch chipmaker Nexperia's assets outside China. Wingtech claims the plan is a "discriminatory expropriation" designed to strip the Chinese firm of lawful investment rights. The dispute has escalated into a legal battle, with Wingtech suing Nexperia and its executives in China, while Nexperia filed a €2 billion lawsuit against Wingtech and its founders in the Netherlands.
The conflict, stemming from a September 2021 government seizure of Nexperia over national security concerns, threatens Wingtech's operations and could lead to a delisting from the Shanghai Stock Exchange if unresolved.
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