82 FR 43665 - Regarding the Proposed Acquisition of Lattice Semiconductor Corporation by China Venture Capital Fund Corporation Limited

Executive Office of the President

Federal Register Volume 82, Issue 179 (September 18, 2017)

[Federal Register Volume 82, Number 179 (Monday, September 18, 2017)]
[Presidential Documents]
[Pages 43665-43666]
From the Federal Register Online  [www.thefederalregister.org]
[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