Recently, Panasonic announced they were getting out of the chip business, selling their semiconductor business to Taiwan’s Nuvoton Technology or $250 million. Israeli chip manufacturer, TowerJazz has a 51% stake in a joint venture with Panasonic, and there was some confusion about whether this joint venture was included in the sale.
Some reports had said that Panasonic’s sale would include the TowerJazz joint venture, which operates three chip-manufacturing facilities in Japan. To squash any rumours, TowerJazz has now announced that they are not selling their controlling interest or giving up board control.
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