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December 20, 2013
07:06 EDTRDARDA Microelectronics, Tsinghua Unigroup announces amendment of merger agreement
Tsinghua Unigroup, an operating subsidiary of Tsinghua Holdings Co., a solely State-owned limited liability corporation funded by Tsinghua University in China, and RDA Microelectronics, a fabless semiconductor company that designs, develops and markets wireless systems-on-chip and radio-frequency semiconductors for cellular, connectivity and broadcast applications, today jointly announced that the parties have entered into an amendment to the merger agreement dated November 11 in light of the latest relaxation of certain PRC regulatory approval requirements for overseas investments that are relevant to the announced merger between Tsinghua Unigroup and RDA. On December 2, the State Council of the Central Government of China promulgated a new 2013 Government-Approved Investment Projects Catalog, which replaced the 2004 Government-Approved Investment Projects Catalog. Pursuant to Article 13 of the New Catalog, if no sensitive country/region or sensitive industry is concerned, overseas investment projects involving an investment amount between $300M and $1B no longer require approval from the National Development and Reform Commission, but instead are only required to complete the registration with the NDRC. The NDRC is currently in the process of preparing the relevant implementation rules.
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