Nexperia’s Chinese owner pledges to use ‘all legal means’ in fight for control

Wingtech Technology, the Chinese owner of Dutch chipmaker Nexperia, said it will use all possible legal means to take back control of the company, putting pressure on the Dutch government to do more to restore the rights of the Chinese shareholder.

In a statement published a day after the Dutch government’s decision to suspend its intervention in Nexperia, Shanghai-listed Wingtech said the ruling made by the Dutch Enterprise Chamber on October 7, which deprived Wingtech of shareholder control and ousted former CEO Zhang Xuezheng, was still in effect.

“The control of Nexperia has not yet returned to its legitimate owner,” Wingtech said in the Chinese-language statement. “The restrictions and infringements upon the lawful rights and interests of Chinese shareholders and personnel continue to persist.”

Wingtech said the Dutch government’s revocation of an executive order was only the first step towards a solution, and the Dutch Ministry of Economic Affairs had to do more to return the situation to the status before the Dutch authority took action.

The statement came as Nexperia’s Dutch headquarters in Nijmegen and its China operations have been in an open spat, threatening the stability of chip supplies to global carmakers.

Lawyers and legal experts said they expected a prolonged legal fight, as Wingtech was trying to challenge the decision made by the Dutch Enterprise Chamber, a court.

  

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