NXP Semiconductors (NXPI) Announces CFIUS Approval for Nexperia Divestiture

October 17, 2016 8:05 AM EDT

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NXP Semiconductors N.V. (NASDAQ: NXPI) today announced that the Committee on Foreign Investment in the United States (CFIUS) 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.

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