NXP Semiconductors has sold the shares to a Chinese contract manufacturer of semiconductor products ASMC
On the website of NXP Semiconductors recently there was a post about selling all she owned shares of Chinese companies Advanced Semiconductor Manufacturing Corp. Ltd. (ASMC), engaged in the production of semiconductor products for third-party orders.
Just sold 421,45 million shares, which corresponded of 27.47% of the capital of ASMC, for the sum of 53.7 million dollars. The buyer is the company to Shanghai Pudong Science and Technology Investment.
The activities of the ASMC began in the late 80-ies, when it was established as a joint venture of Philips Semiconductor Shanghai with the participation of the Chinese government and Royal Philips Electronics, which was subsequently separated by NXP. For many years SP Philips Semiconductor Shanghai produced semiconductor products solely on the orders of Philips. Later the company name was changed to ASMC. Its a factory designed for 200-mm silicon wafer.
According to EE Times, selling due to another deal — as you know, Qualcomm buys NXP Semiconductors for $ 47 billion. It is assumed that the deliverance from NXP stake in the Chinese company will facilitate obtaining the approval of this transaction from the local antitrust regulators. Its completion is expected before the end of the year.
Source: NXP Semiconductors, EE Times