Regarding the Proposed Acquisition of Lattice Semiconductor Corporation by China Venture Capital Fund Corporation Limited

[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

r 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:

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]]

f 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.

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