Nexperia is seeking to overturn the order to sell the plant, with a judicial review scheduled for the autumn.

Government officials are understood to have previously discussed providing taxpayer support for a buyout. The National Security Strategic Investment Fund, a body linked to GCHQ and run by the British Business Bank, has been mooted as one potential source of capital although it is unclear if this is still on the table.

Nexperia hired Atreg, an advisory firm that specialises in selling semiconductor plants, in April.

The company confirmed it has been in discussions with possible buyers.

A spokesman said: “Whilst we await the outcome of the Judicial Review process, Nexperia has appointed advisers to explore the potential future sale of its Newport manufacturing site.

“As part of that process, Atreg has been privately briefing a number of potentially interested parties. Our priorities remain unchanged – to look after the impacted employees at Nexperia Newport and to secure supply for our customers. This appointment has been made with those priorities in mind.  

“Nexperia remains fully committed to the Judicial Review process and still strongly disagrees with the UK Government’s November 2022 divestment order, not accepting any of the national security concerns raised.”

The company is believed to have opened a “data room” which gives prospective bidders access to a detailed look at its finances and assets.

One industry source said that US-listed STMicro and GlobalFoundries would be seen as natural potential bidders for the facility, with deep pockets and industry links to make it a commercial success. Another suggested the companies were more focused on the EU and US, where heavy subsidies are available.

The companies did not respond to requests for comment.

The French and Italian states are the biggest shareholders in STMicro, each owning a 13.8pc stake.

Nexperia has claimed the plant could be forced to shut if the company was forced to sell it. Nexperia acquired the 86pc of Newport Wafer Fab it did not own for around £63m in 2021 after the facility fell into financial difficulty.