Germany says review of Chinese bid for Aixtron to take months

Markets Reuters

The logo of Aixtron SE is pictured on the roof of the German chip equipment maker's headquarters in Herzogenrath near the western German city of Aachen, October 25, 2016.  REUTERS/Wolfgang Rattay

The logo of Aixtron SE is pictured on the roof of the German chip equipment maker's headquarters in Herzogenrath near the western German city of Aachen, October 25, 2016. REUTERS/Wolfgang Rattay (Copyright Reuters 2016)

A German Economy Ministry review of a Chinese takeover bid for chip equipment maker Aixtron will likely take several months, a ministry spokeswoman said on Wednesday, declining to give details on why it withdrew clearance for the deal.

Continue Reading Below

The ministry first needs to collect all necessary documents pertaining to the review, the spokeswoman told a regular government news conference in Berlin.

Once these have been handed it, the review process will likely last two to three months, she added.

She declined to give details on the origin or type of "new security information" that had lead to the ministry withdrawing its approval for Fujian Grand Chip Investment Fund (FGC) to buy the Aachen-based firm for 670 million euros ($732 million).

Business-daily Handelsblatt reported on Wednesday that U.S. intelligence services had warned Berlin the Chinese takeover of Aixtron could give Beijing access to technology that could be used for military purposes.

(Reporting by Caroline Copley; Editing by Paul Carrel)