This is an electronic map service provider first developed by Nokia. 20 15 was acquired by a consortium of German automakers BMW, Audi and Daimler. NavInfo's announcement said that at the extraordinary shareholders' meeting held on 20 17 65438+ 10/3, NavInfo passed the plan to jointly acquire the equity of Here10 with Tencent and Singapore Investment Corporation (GIC), and immediately joined with other companies including Mercedes-Benz, BMW and GIC. However, after a five-month two-stage review by the Committee on Foreign Investment in the United States (CFIUS), the transaction has not been approved before the review deadline. Therefore, NavInfo "intends to negotiate with all parties not to advance the transaction".
The reporter called NavInfo and learned that the person in charge of the matter was on a business trip and could not answer relevant questions.
According to an industry insider in Caixin.com who asked not to be named, HERE has business in the United States. Although this transaction only involves the acquisition of 10% minority equity, CFIUS will think that this transaction may lead to foreign control if a transaction involves special powers such as board seats and veto power; Therefore, CFIUS decided to also have the right to review the transaction.
This is the second time in a month that the US government has rejected China's overseas M&A plan. On June 14, US President Trump issued an order to stop a Chinese fund from acquiring American semiconductor manufacturer Ledis. According to the news released by the White House, Trump asked buyers and sellers to "take all necessary measures to completely and permanently abandon their current M&A proposal".
At that time, China's Ministry of Commerce responded that it is a country's legal right to conduct security review on investments in sensitive areas, but it should not be a tool to promote protectionism.
"The acquisition of foreign companies by China enterprises abroad is a market behavior of independent decision-making by enterprises. I hope that the countries concerned can treat the overseas acquisitions of China enterprises objectively and fairly, give fair treatment to this normal business behavior, create a reasonable and transparent business environment for them, and avoid affecting investor confidence. " Gao Feng, spokesman of the Ministry of Commerce, said.
US President Trump will visit China this year, and Sino-US economic and trade relations will be a key issue. Earlier, when US Commerce Secretary Ross met with China Commerce Minister Zhong Shan on 24th of this month, he said that Sino-US economic and trade relations are the most important bilateral economic and trade relations, and President Trump's visit to China will be a historic event. The United States is willing to closely communicate and cooperate with China to prepare fruitful results for President Trump's visit to China.
Zhong Shan said that China and the United States should cherish the hard-won cooperation. We are willing to work with the US to implement the important understanding reached by the two heads of state, strengthen cooperation, control differences and constantly promote the healthy and stable development of bilateral economic and trade relations.
According to the news of CCTV news client on September 27th, the State Council spokeswoman Nolte said on the 26th local time that US Secretary of State Tilson will also visit China this week to communicate with China on North Korea and trade.
China's Foreign Ministry confirmed on the 27th that Tilson will visit China on September 30th.