Controlling stake in Arm China may shift to little-known entity as chip joint venture’s ownership saga drags on

Arm China, which has just ended a boardroom bust-up by ousting its former chairman, may end up in the hands of an entity that has little or no public profile, adding a layer of mystery to the British chip design firm’s joint venture.

In a press release distributed to media outlets through public relations agencies on Wednesday, a company called Lotcap Group said it has agreed a letter of intent with Chinese shareholders of Arm China to buy a 51 per cent stake in the joint venture. It claimed that the proposed equity deal has received “support” from Arm Ltd, the British parent firm.