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STMicroelectronics Buys NXP’s 20 Percent Share in ST-NXP Wireless
STMicroelectronics has purchased NXP Semiconductors' 20 percent stake in ST-NXP Wireless. This follows on from the announcement on 20 August 2008 made jointly by STMicroelectronics and Ericsson Mobile Platforms of an agreement to merge Ericsson Mobile Platforms and ST-NXP Wireless into a 50/50 joint venture.
STMicroelectronics indicated at that date that it expected to exercise its call option to buy NXP's 20 percent of ST-NXP Wireless before the closing of the transaction. The agreed purchase price is $92 M, which is based on the performance of the ST-NXP Wireless business in the last twelve months (sales and EBITDA). The transaction became effective on 2 February 2009.