NXP and STMicroelectronics completed deal to create new wireless semiconductor joint venture

On July 28, 2008, NXP and STMicroelectronics announced the closing of a deal bringing together key wireless operations of both companies into a joint venture company. The joint venture company was being created from successful businesses that together generated USD 3 billion in revenue in 2007.

Lenz & Staehelin advised NXP with respect to Swiss law aspects of this transaction, in particular, the formation of the Swiss joint venture holding company, ST-NXP Wireless (Holding) AG, and the adaption of the shareholders' agreement between the parties to Swiss law. Lenz & Staehelin's team was led by Rudolf Tschäni and comprised Tino Gaberthüel and Maja Baumann.

The lead counsel for NXP was De Brauw Blackstone Westbroek. STMicroelectronics was advised by Allen & Overy and KPMG Switzerland.