Status: Clearance

 

Acquirer:  Beijing Jianguang Asset Management Co., Ltd. (China)

Acquired:  RJR Technologies, Inc. (US)

Value:  Unknown (Purportedly US$5.5 Million)

Industry:  Electronic Engineering


UPDATE:  According to news reports, the investment involved an “agreement on investment and cooperation in establishing a joint venture in China.”  (EE World.com.cn, Jianguang Assets invests in US RJR, establishes joint venture company, and improves China’s RF industry chain, Oct. 11, 2017, machine translation of Chinese language original.)  Initial news coverage indicated that the investment required CFIUS clearance.  (See id.; see also prior blog post below.)  According to public statements by a Senior Investment Manager of Beijing Jianguang Asset Management Co., the investment in RJR Technologies was completed and was valued at approximately $5.5 billion.  (See Borui Gao LinkedIn Page, accessed July 11, 2019.)

Beijing Jianguang Asset Management Co., Ltd., is a subsidiary of China Jianyin Investment Limited (see China Jianyin Investment Press Release, Feb. 7, 2017, accessed July 11, 2019), which is an investment group and a state-owned enterprise.  (See China Jianyin Investment Limited, Annual Report web page, accessed July 11, 2019.)


Posted October 20, 2017

Status: Upcoming/New Filing

On September 22, 2017, RJR Technologies, Inc. (“RJR Technologies”), an Oakland, California based company that provides packaging solutions for electronic devices, and Beijing Jianguang Asset Management Co., Ltd., a China based investment management company, signed an agreement whereby the companies will cooperate and construct a joint venture to establish a packaging business in China.  (See China Semiconductor Industry Association Press Release , Jianguang Assets will be Combined with the United States RJR Joint Venture to Improve China’s RF Industry Chain, Oct. 12, 2017, machine translation.)  RJR Technologies manufactures air cavity packages, pre-applied epoxies, sealing systems, and radio-frequency (RF) power packets, which are used by the semiconductor industry for logistics solutions.  (See RJR Technologies website, About Us web page.)  The parties have disclosed to the China Semiconductor Industry Association that the proposed venture will be submitted to the Committee on Foreign Investment in the United States for approval. (See China Semiconductor Industry Association Press Release, Oct. 12, 2017, machine translation.)