NXP Semiconductors (NXPI) Approved by MOFCOM to Divest Standard Products Business

September 1, 2016 8:34 AM EDT

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NXP Semiconductors N.V. (Nasdaq: NXPI) 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.

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