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NXP to sell Standard Products business for USD 2.75 bln

2016-06-14 09:07:00| Telecompaper Headlines

(Telecompaper) NXP Semiconductors has agreed to divest its Standard Products business to a consortium of financial investors consisting of Beijing Jianguang Asset Management (JAC Capital) and Wise Road Capital. Under the terms of the agreement, the consortium will pay around USD 2.75 billion for the business. The transaction is expected to close in the first quarter of 2017, pending regulatory approvals and employee representative consultations.

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