A planned takeover of the Wiltz-based firm Circuit Foil by Chinese company Defu has been terminated, thwarted by regulatory conditions imposed by Luxembourg authorities.
The deal, announced in July 2025, would have seen Defu acquire 100% of Circuit Foil’s shares for €174 million. Circuit Foil is a global leader in the production of specialised thin copper foils.
In a written statement to RTL, the Ministry of the Economy confirmed it granted an authorisation for the acquisition on 8 January, but made it subject to specific conditions permitted under national and European foreign investment screening laws for critical activities. The Ministry’s letter did not detail the nature of these conditions.
Following this decision, Defu stated that the stipulated conditions prevented the purchase from proceeding as originally intended. Both parties have now mutually agreed to cancel the acquisition.
