Written questions, answers and statements

Flusso: Shanghai Sierchi Enterprise Management Partnership

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Question for Department for Business, Energy and Industrial Strategy

UIN 124157, tabled on 16 January 2023

Question

Alicia Kearns
Conservative
Rutland and Melton
Commons

To ask the Secretary of State for Business, Energy and Industrial Strategy, whether he plans to take steps to review the takeover of semiconductor start-up Flusso by Shanghai Sierchi Enterprise Management Partnership.

Answer

Ms Nusrat Ghani
Conservative
Wealden
Commons

Answered on

19 January 2023

The acquisition of Flusso was screened and issued with a Final Notification in June 2022 by the then Secretary of State Kwasi Kwarteng.

As with any transaction, should the company be sold on, that, or any subsequent acquisition, could be called in if the thresholds under the NSI Act are met. For reasons of commercial confidentiality, acquisitions called in for screening that are subsequently cleared by the National Security and Investment Act are not routinely publicised. The Government will not comment further on the detail of the transaction, or any national security assessment made.

Answered by

Department for Business, Energy and Industrial Strategy
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