CELEX: 32016M8125
Language: en
Date: 2016-10-12 00:00:00
Title: Commission Decision of 12/10/2016 declaring a concentration to be compatible with the common market (Case No COMP/M.8125 - JAC / NEXPERIA) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

|[pic]                             |EUROPEAN COMMISSION                                                                                      |

                                        Brussels, 12.10.2016
                                        C(2016) 6677 final

                                        [pic]

                                        To the notifying parties

Dear Sirs,

Subject:    Case M.8125 - JAC / NEXPERIA
         Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004[1] and Article 57 of the Agreement on the
         European Economic Area[2]

 1. On 13 September 2016, the European Commission received notification of a  proposed  concentration  pursuant  to  Article  4  of  the  Merger
    Regulation by which the undertaking Beijing Jianguang Asset Management Co., Ltd. ("JAC", People's Republic  of  China),  controlled  by  the
    China Investment Corporation (“CIC”, People's Republic of China), acquires within the meaning of Article 3(1)(b) of  the  Merger  Regulation
    control of the standard products business unit (“Nexperia”) of NXP Semiconductors  NV  (“NXP”,  the  Netherlands)  by  way  of  purchase  of
    shares.[3]

 2. The business activities of the undertakings concerned are:

  – JAC is an investment management company which focuses its investments on mergers and acquisitions  in  the  semiconductor  industry.  It  is
    active in developing, manufacturing, and selling RF power transistors and bipolar based (power)  diodes,  thyristors  and  transistors.  Its
    parent company, CIC, is a sovereign wealth fund of the People’s Republic of China, specialized in foreign exchange holdings.

  – Nexperia is active in the manufacturing and sale of semiconductors, in particular several types of logic integrated circuits ("ICs"),  small
    signal transistors and diodes.

 3. After examination of the notification, the European Commission has concluded that the notified operation  falls  within  the  scope  of  the
    Merger Regulation and of paragraph 5(c) and 6 of the Commission Notice on a simplified procedure for  treatment  of  certain  concentrations
    under Council Regulation (EC) No 139/2004.[4]

 4. For the reasons set out in the Notice on a simplified procedure, the European Commission has decided not to oppose  the  notified  operation
    and to declare it compatible with the internal market and with the EEA Agreement. This decision is adopted in application of Article 6(1)(b)
    of the Merger Regulation and Article 57 of the EEA Agreement.

                                        For the Commission

                                        (Signed)
                                        Johannes LAITENBERGER
                                        Director-General

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[1]   OJ L 24, 29.1.2004, p. 1 (the 'Merger Regulation'). With effect from 1 December 2009, the Treaty on the Functioning of the  European  Union
    ('TFEU') has introduced certain changes, such as the replacement of 'Community' by 'Union' and 'common market'  by  'internal  market'.  The
    terminology of the TFEU will be used throughout this decision.
[2]   OJ L 1, 3.1.1994, p. 3 (the 'EEA Agreement').
[3]   Publication in the Official Journal of the European Union No C 342, 17.09.2016, p. 13.
[4]   OJ C 366, 14.12.2013, p. 5.

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                                                           SIMPLIFIED MERGER PROCEDURE

                                                                  PUBLIC VERSION