[Federal Register Volume 82, Number 179 (Monday, September 18, 2017)]
[Presidential Documents]
[Pages 43665-43666]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-20005]
Presidential Documents
Federal Register / Vol. 82, No. 179 / Monday, September 18, 2017 /
Presidential Documents
[[Page 43665]]
Order of September 13, 2017
Regarding the Proposed Acquisition of Lattice
Semiconductor Corporation by China Venture Capital Fund
Corporation Limited
By the authority vested in me as President by the
Constitution and the laws of the United States of
America, including section 721 of the Defense
Production Act of 1950, as amended (section 721), 50
U.S.C. 4565, it is hereby ordered as follows:
Section 1. Findings. (a) There is credible evidence
that leads me to believe that (1) Canyon Bridge Merger
Sub, Inc., a corporation organized under the laws of
Delaware (Merger Sub); (2) Merger Sub's parent
companies Canyon Bridge Acquisition Company, Inc., a
corporation organized under the laws of Delaware
(Acquisition Company), Canyon Bridge Capital Investment
Limited, an entity organized under the laws of the
Cayman Islands (Capital Investment), and Canyon Bridge
Fund I, LP (CBFI), a limited partnership organized
under the laws of Delaware; and (3) CBFI's limited
partner Yitai Capital Limited, a company organized
under the laws of Hong Kong (Yitai), and Yitai's parent
company China Venture Capital Fund Corporation Limited,
a corporation organized under the laws of the People's
Republic of China (CVCF and, together with Merger Sub,
Acquisition Company, Capital Investment, CBFI, and
Yitai, the Purchasers), through exercising control of
Lattice Semiconductor Corporation, a corporation
organized under the laws of Delaware (Lattice), might
take action that threatens to impair the national
security of the United States; and
(b) Provisions of law, other than section 721 and
the International Emergency Economic Powers Act (50
U.S.C. 1701 et seq.), do not, in my judgment, provide
adequate and appropriate authority for me to protect
the national security in this matter.
Sec. 2. Actions Ordered and Authorized. On the basis of
the findings set forth in section 1 of this order,
considering the factors described in subsection 721(f)
of the Defense Production Act of 1950, as appropriate,
and pursuant to my authority under applicable law,
including section 721, I hereby order that:
(a) The proposed acquisition of Lattice by the
Purchasers (the proposed transaction) is prohibited,
and any substantially equivalent transaction, whether
effected directly or indirectly by the Purchasers,
through the Purchasers' shareholders or shareholders'
immediate, intermediate, or ultimate foreign person
beneficial owners, or through the Purchasers'
subsidiaries, is also prohibited.
(b) The Purchasers and Lattice shall take all steps
necessary to fully and permanently abandon the proposed
transaction not later than 30 days after the date of
this order, unless such date is extended by the
Committee on Foreign Investment in the United States
(CFIUS) for a period not to exceed 90 days, on such
conditions as CFIUS may require. Immediately upon
completion of all steps necessary to terminate the
proposed transaction, the Purchasers and Lattice shall
certify in writing to CFIUS that such termination has
been effected in accordance with this order and that
all steps necessary to fully and permanently abandon
the proposed transaction have been completed.
[[Page 43666]]
(c) From the date of this order until the
Purchasers and Lattice provide a certification of
termination of the proposed transaction to CFIUS
pursuant to subsection (b) of this section, the
Purchasers and Lattice shall certify to CFIUS on a
weekly basis that they are in compliance with this
order and include with that certification a description
of all efforts to permanently abandon the proposed
transaction and a timeline for projected completion of
remaining actions necessary to effectuate the
abandonment.
(d) Any transaction or other device entered into or
employed for the purpose of, or with the effect of,
avoiding or circumventing this order is prohibited.
(e) The Attorney General is authorized to take any
steps necessary to enforce this order.
Sec. 3. Reservation. I hereby reserve my authority to
issue further orders with respect to the Purchasers or
Lattice as shall in my judgment be necessary to protect
the national security of the United States.
Sec. 4. Publication and Transmittal. (a) This order
shall be published in the Federal Register.
(b) I hereby direct the Secretary of the Treasury
to transmit a copy of this order to the parties to the
proposed transaction named in section 1 of this order.
(Presidential Sig.)
THE WHITE HOUSE,
September 13, 2017.
[FR Doc. 2017-20005
Filed 9-15-17; 11:15 am]
Billing code 3295-F7-P