NXP Semiconductors N.V. (NASDAQ: NXPI) has today announced that the company has received clearance on the proposed transaction of the sale of its RF Power business to Jianguang Asset Manangement Co. Ltd (“JAC Capital”) from the Committee on Foreign Investment in the United States (CFIUS). The divesture of the RF Power business is a condition for NXP’s merger with Freescale Semiconductor.
NXP and JAC Capital are in the final stages of the regulatory approval process in respect of the acquisition by JAC Capital of NXP’s RF Power business, which is targeted to close on December 7, next.
About NXP Semiconductors
NXP Semiconductors N.V. (NASDAQ: NXPI) creates solutions that enable secure connections for a smarter world. Building on its expertise in high-performance mixed-signal electronics, NXP is driving innovation in the areas of connected cars, cyber security, portables & wearables, and the Internet of Things. NXP has operations in more than 25 countries, and posted revenue of $5.65 billion in 2014. Find out more at www.nxp.com
About Jianguang Asset Management Co. Ltd. (JAC Capital)
Beijing Jianguang Asset Management Co., LTD. (“JAC Capital”) is a subsidiary of JIC Capital which is a state-owned investment company. JAC Capital was established for the purpose of investing in the high tech industry including semiconductor, information technology, networking, data service, cloud computing and telecommunications. By taking advantage of the abundant resources of its shareholders in the international financial market, JAC Capital partners with industrial leaders in various sectors make investments in the focused high tech industry and the global semiconductors market to support its continuous development.
No Offer or Solicitation
This communication does not constitute an offer to buy or sell or the solicitation of an offer to buy or sell any securities or a solicitation of any vote or approval. This communication relates to a proposed business combination between NXP Semiconductors N.V. (“NXP”) and Freescale Semiconductor, Ltd. (“FSL”).
