NXP Receives MOFCOM Approval for Divestiture of Standard Products Business
September 01 2016 - 8:31AM
NXP Semiconductors N.V. (NASDAQ:NXPI) today announced that the
Ministry of Commerce (“MOFCOM”) of China has approved the
transaction under which NXP divests its Standard Products business
(“Nexperia”) to a consortium of financial investors consisting of
Beijing Jianguang Asset Management Co., Ltd (“JAC Capital”) and
Wise Road Capital LTD (“Wise Road Capital”).
NXP continues to expect to close the transaction in the first
quarter of 2017.
About NXP SemiconductorsNXP Semiconductors N.V.
(NASDAQ:NXPI) enables secure connections and infrastructure for a
smarter world, advancing solutions that make lives easier, better
and safer. As the world leader in secure connectivity solutions for
embedded applications, NXP is driving innovation in the secure
connected vehicle, end-to-end security & privacy and smart
connected solutions markets. Built on more than 60 years of
combined experience and expertise, the company has 44,000 employees
in more than 35 countries and posted revenue of $6.1 billion in
2015. Find out more at www.nxp.com.
About Beijing
Jianguang Asset Management
Co., Ltd. (JAC
Capital)Beijing Jianguang Asset Management Co., Ltd. (“JAC
Capital”) is a subsidiary of JIC Capital which is part of JIC Group
(China Jianyin Investment Ltd). 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 and makes investments in the focused high tech
industry and the global semiconductors market to support its
continuous development.
About Wise Road Capital LTD
(Wise Road
Capital)Wise Road Capital is a global private
equity fund that is focused on investing into solid high tech
companies by identifying opportunities in enabling technologies for
global urbanization and smart/green life through close cooperation
with leading companies along several main themes, including smart
city, intelligent manufacturing, renewable energies, etc. Wise Road
Capital is striving to build a healthy international eco-system
around those key themes through its investments and its
international management team with a combination of industry and
investment background.
Forward-looking StatementsThis document
includes forward-looking statements which include statements
regarding NXP’s business strategy, financial condition, results of
operations, and market data, as well as any other statements which
are not historical facts. By their nature, forward-looking
statements are subject to numerous factors, risks and uncertainties
that could cause actual outcomes and results to be materially
different from those projected. These factors, risks and
uncertainties include the following: market demand and
semiconductor industry conditions; the ability to successfully
introduce new technologies and products; the end-market demand for
the goods into which NXP’s products are incorporated; the ability
to generate sufficient cash, raise sufficient capital or refinance
corporate debt at or before maturity; the ability to meet the
combination of corporate debt service, research and development and
capital investment requirements; the ability to accurately estimate
demand and match manufacturing production capacity accordingly or
obtain supplies from third-party producers; the access to
production capacity from third-party outsourcing partners; any
events that might affect third-party business partners or NXP’s
relationship with them; the ability to secure adequate and timely
supply of equipment and materials from suppliers; the ability to
avoid operational problems and product defects and, if such issues
were to arise, to correct them quickly; the ability to form
strategic partnerships and joint ventures and to successfully
cooperate with alliance partners; the ability to win competitive
bid selection processes to develop products for use in customers’
equipment and products; the ability to successfully establish a
brand identity; the ability to successfully hire and retain key
management and senior product architects; and, the ability to
maintain good relationships with our suppliers. In addition, this
document contains information concerning the semiconductor industry
and NXP’s business segments generally, which is forward-looking in
nature and is based on a variety of assumptions regarding the ways
in which the semiconductor industry, NXP’s market segments and
product areas may develop. NXP has based these assumptions on
information currently available, if any one or more of these
assumptions turn out to be incorrect, actual market results may
differ from those predicted. While NXP does not know what impact
any such differences may have on its business, if there are such
differences, its future results of operations and its financial
condition could be materially adversely affected. Readers are
cautioned not to place undue reliance on these forward-looking
statements, which speak to results only as of the date the
statements were made. Except for any ongoing obligation to disclose
material information as required by the United States federal
securities laws, NXP does not have any intention or obligation to
publicly update or revise any forward-looking statements after we
distribute this document, whether to reflect any future events or
circumstances or otherwise. For a discussion of potential risks and
uncertainties, please refer to the risk factors listed in our SEC
filings. Copies of our SEC filings are available on our Investor
Relations website, www.nxp.com/investor or from the SEC
website, www.sec.gov.
For further information, please contact:
Investors:
Jeff Palmer
jeff.palmer@nxp.com
+1 408 518 5411
Media:
Joon Knapen
joon.knapen@nxp.com
+49 151 257 43 299
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