March 26, 2018 / 2:14 PM / 5 months ago

BRIEF-Semiconductor Manufacturing International Corp Says SMIC Holdings Enters Equity Transfer Agreement

March 26 (Reuters) - Semiconductor Manufacturing International Corp:

* SMIC HOLDINGS SELLS 28.17% STAKE IN JOINT VENTURE NINGBO SEMICONDUCTOR INTERNATIONAL CORP

* STAKE TRANSFERRED TO CHINA INTEGRATED CIRCUIT INDUSTRY INVESTMENT FUND CO

* UPON COMPLETION, SMIC HOLDINGS SHAREHOLDING IN JV WILL DECREASE TO 38.59%

* THERE IS NO GAIN OR LOSS EXPECTED TO ACCRUE TO COMPANY AS A RESULT OF EQUITY TRANSFER

* SMIC HOLDINGS TO MAKE FURTHER CASH CONTRIBUTION OF RMB565 MILLION TO REGISTERED CAPITAL OF JV CO Source text for Eikon: Further company coverage:

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