Hogan Lovells advises NXP on the sale of their standard products business

Led by their Hamburg partner Andreas Meyer Hogan Lovells has advised listed Dutch NXP Semiconductors N.V. on the sale of their standard products division to Chinese investors Beijing Jianguang Asset Management Co., Ltd ("JAC Capital") and Wise Road Capital LTD ("Wise Road Capital").

The transaction also includes the sale of a chip factory and its property in Hamburg. The purchase price amounts to USD 2.75 Billion.

The transaction was structured as a share-deal with a preceding carve-out: the standard product business was separated and became legally autonomous in a new subgroup under the business name Nexperia; all shares of the companies belonging to Nexperia subgroup holding company were transferred to an SPV of the buyers Jianguang, which is hold by the Chinese state, and Wise Road, a global private equity fund.

The sold division includes fields like diodes, transistors, power semiconductors and their components, which are for example used in automobiles, computers and consumer electronics. The German part of the standard product business account for a significant amount of the total turnover: With 11,000 employees worldwide the standard product division generated a total turnover of USD 1.2 Billion in 2015.

"We were happy to assist our long-standing client NXP Semiconductors N. V. with our legal expertise on the preparations and contract negotiations for this future-oriented transaction," said Andreas Meyer.

Hogan Lovells for NXP Semiconductors N. V.:

Dr. Andreas H. Meyer (Partner), Dr. Sebastian Pläster, Frank Hahn (Senior Associates), Dr. Kjell Jacobsen (Associate, Corporate/M&A, Hamburg);

Dr. Norbert Heier (Partner, Real Estate, Hamburg);

Dr. Ingmar Dörr (Partner), Dr. Falk Loose (Counsel, Tax, Munich); 

Dr. Christian Tinnefeld (Counsel, Intellectual Property, Hamburg).

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