President Donald Trump issued an order instructing Hong Kong-based Suirui International Co., Limited, to divest all its interests in Delaware-based Jupiter Systems, LLC, due to national security risks, the Department of the Treasury said in a July 11 statement.
Suirui International is a majority-owned subsidiary of Suirui Group Co., Ltd., a company organized under the laws of China, the order said. Suirui International had acquired all interests in Jupiter via a transaction in February 2020. The acquisition included two subsidiaries of Jupiter, one in Hong Kong and another in China.
The Committee on Foreign Investment in the United States (CFIUS), an interagency that reviews certain transactions involving foreign investments, looked at the deal and identified a national security risk arising from Suirui’s ownership of Jupiter “relating to the potential compromise of Jupiter’s products used in military and critical infrastructure environments,” according to the Treasury….