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JCET to buy 80% stake in SanDisk China's unit
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BEIJING (Reuters) — China's chip assembly and testing firm JCET said on Monday it plans to buy an 80% stake in SanDisk China's Shanghai-based unit specialising in flash memory products for about $624 million via cash.
Western Digital Corporation (NASDAQ:WDC), parent company of SanDisk China, has established a long-term cooperation partnership with JCET since 2003, the company said in a filing to Shanghai bourse.
SanDisk Semiconductor Shanghai will become a joint venture of JCET and Western Digital, it said, adding that it will hold a 80% stake in the JV.
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