| MOFCOM Announcement | | 商务部公告 |
| （No. 64 of 2015） | | （2015年第64号） |
| Announcement on Decisions from Anti-monopoly Review of the Concentration of Undertakings on Conditional Approval of Proposed Acquisition of All Equities in Freescale by NXP | | 关于附加限制性条件批准恩智浦收购飞思卡尔全部股权案经营者集中反垄断审查决定的公告 |
| Ministry of Commerce of the People's Republic of China (hereinafter referred to as the “Ministry of Commerce”) received the anti-monopoly declaration of the concentration of undertakings on the case of acquisition of all equities in Freescale Semiconductor, Inc. (hereinafter referred to as “Freescale”) by NXP Semiconductors N. V. (hereinafter referred to as “NXP”) (hereinafter referred to as the “Case”). Upon review, the Ministry of Commerce decided to approve the concentration of undertakings with additional restrictive conditions. In accordance with Article 30 of the Anti-monopoly Law of the People's Republic of China (hereinafter referred to as the “Anti-monopoly Law”), relevant matters are hereby announced as follows: | | 中华人民共和国商务部（以下简称商务部）收到恩智浦半导体股份公司（NXP，以下简称恩智浦）收购飞思卡尔半导体有限公司（Freescale，以下简称飞思卡尔）全部股权案（以下称本案）的经营者集中反垄断申报。经审查，商务部决定附加限制性条件批准此项经营者集中。根据《中华人民共和国反垄断法》（以下简称《反垄断法》）第三十条，现公告如下： |
| I. Case-filing and review procedures | | 一、立案和审查程序 |
| On April 3, 2015, the Ministry of Commerce received the anti-monopoly declaration for the concentration of undertakings concerning the Case. Upon review, the Ministry of Commerce considered that the documents for declaration were incomplete, and required the declarer to make supplementation. On May 15, the Ministry of Commerce confirmed that the documents and materials after further supplementation complied with Article 23 of the Anti-monopoly Law, and therefore the anti-monopoly declaration for the concentration of undertakings was admitted to be filed and the preliminary investigation was launched. On June 12, the Ministry of Commerce decided to further review this concentration of undertakings. Upon the review, the Ministry of Commerce considered that the concentration might have adverse effects of eliminating and restricting competitions on the market of RF power transistors. On September 11 and with the consent of the declarer, the Ministry of Commerce decided to extend the review period. Upon the expiry of the extended review period, the declarer applied for withdrawal of the Case, which was approved by the Ministry of Commerce. On November 10, the Ministry of Commerce conducted the investigation for the re-declaration from the declarer. And up to present, the Case is still in the preliminary investigation, the deadline for which is December 9. | | 2015年4月3日，商务部收到本案的经营者集中反垄断申报。经审核，商务部认为该申报材料不完备，要求申报方予以补充。5月15日，商务部确认经补充的申报材料符合《反垄断法》第二十三条的要求，对此项经营者集中申报予以立案并开始初步审查。6月12日，商务部决定对此项经营者集中实施进一步审查。经进一步审查，商务部认为，此项集中对射频功率晶体管市场可能具有排除、限制竞争的效果。9月11日，经申报方同意，商务部决定延长进一步审查期限。进一步审查延长阶段届满时，申报方申请撤回案件并得到商务部同意。11月10日，商务部对申报方的重新申报予以立案审查，目前处于初步审查阶段，截止日期为12月9日。 |
| In the course of the review, the Ministry of Commerce solicited opinions from relevant government departments, trade associations, downstream customers and industry experts, held several times of forums for the knowledge of relevant market definition, market players, market structure, industry characteristics and the prospects, and reviewed the authenticity, completeness and accuracy of the documents and materials submitted by the declarer. | | 在审查过程中，商务部征求了有关政府部门、行业协会、下游客户及行业专家意见，多次召开座谈会了解相关市场界定、市场参与者、市场结构、行业特征及未来发展前景等方面的信息，并对申报方提交的文件、材料的真实性、完整性和准确性进行了审核。 |
| II. General information of the Case | | 二、案件基本情况 |
| NXP, the acquirer, which was established in the Netherlands in 2006, is a NASDAQ-listed company. It is a global semiconductor company that is engaged in the design, manufacture and sales of integrated circuits and single-component (discrete) semiconductors. The products are applied in multiple sectors and industries such as the automobile, wireless network infrastructure, lighting, mobile, consumption and computers. | | 收购方恩智浦于2006年在荷兰设立，是纳斯达克上市公司。恩智浦是一家全球半导体公司，从事集成电路及单一组件（分立元件）半导体的设计、制造和销售，其产品用于汽车、无线网络基础设施、照明、移动、消费与计算机等多种领域和行业。 |
| Freescale, the acquiree, which was established in Bermuda in 2003, is located in the U.S. It is a NYSE-listed company composed of the operating assets and liabilities of the former semiconductor division of Motorola. Freescale is engaged in production, research and development of micro-controllers and digital network processors (commonly known as embedded processors). In addition, Freescale provides differentiated semiconductor product mix that supplements the embedded processors. | | 被收购方飞思卡尔于2003年在百慕大设立，住所位于美国，由原摩托罗拉半导体产品分部的运营资产和负债组成，是纽约证券交易所上市公司。飞思卡尔是一家从事微控制器与数字网络处理器（通常称为嵌入式处理器）生产和研发的公司。此外，该公司还向客户提供与其嵌入式处理器互补的差异化半导体产品组合。 |
| According to the agreement signed among NXP, Nimble Acquisition Limited (a wholly-owned subsidiary of NXP, hereinafter referred to as “Nimble”) and Freescale on March 1, 2015 Nimble will be merged into Freescale. Each holder of the ordinary share of Freescale can exchange each ordinary share of Freescale for 0.3251 ordinary share of NXP and cash of USD 6.25. Upon the transaction, Freescale will become a wholly-owned subsidiary of NXP. | | 根据恩智浦、敏博收购有限公司（恩智浦的全资子公司，以下简称敏博）和飞思卡尔于2015年3月1日签订的协议，敏博将被吸收并入飞思卡尔。飞思卡尔各普通股持股人可以每股飞思卡尔普通股换取6.25美元现金和0.3251股恩智浦普通股。交易完成后，飞思卡尔将成为恩智浦的全资子公司。 |
| III. Relevant markets | | 三、相关市场 |
| (1) Relevant commodity markets. | | （一）相关商品市场。 |
| NXP and Freescale are laterally overlapped in the markets of general micro-controllers, special analogue integrated circuits (applied in the field of automobiles) for power sources and RF power transistors. | | 恩智浦与飞思卡尔在通用微控制器、电源专用模拟集成电路（用于汽车应用领域）和射频功率晶体管市场存在横向重叠。 |
| The micro-controller is an independent device that functions as special or embedded computers in the electronic system without any ancillary circuits. The main function of the micro-controller is to control the equipment so it has no powerful ability of calculation functions as the micro-processors. The general micro-controller is a kind of micro-controller with standardized product features, compliance with the requirements for multiple systems and covering different application fields. | | 微控制器是一种在电子系统中执行专用或嵌入式计算功能的独立设备，无需其他辅助电路。微控制器最主要的作用是控制设备，不具备与微处理器类似的强大运算功能。通用微控制器是指具有标准化的产品特征并且能够满足多种系统的要求，覆盖不同应用领域的微控制器。 |
| The analogue integrated circuits are integrated circuits that only contain analog technologies. The can be further divided into general and special analogue integrated circuits. Special analogue integrated circuits are customized to execute specific functions for certain fields. The special analogue integrated circuits involved in the transaction are applied in the automobile fields, which can be subdivided into special analogue integrated circuits for and not for power sources. Those for power sources constitute independent relevant commodities due to different functions, IP modules and production technologies. | | 模拟集成电路是仅包含模拟技术的集成电路。模拟集成电路可以进一步分为通用模拟集成电路和专用模拟集成电路。专用模拟集成电路是经定制的用于某一类设备以执行特定功能的模拟集成电路。本交易所涉及的专用模拟集成电路用于汽车领域，可细分为电源专用模拟集成电路和非电源专用模拟集成电路。因具有不同的功能、IP模块和生产工艺，电源专用模拟集成电路构成独立的相关商品市场。 |
| The RF power transistor is used to amplify the radio signals of communication devices. The average output power is more than 1 watt and the maximum output power is more than 1,000 watts. In terms of application, the RF power transistors are mainly used for receiving and sending long-distance RF signatures in radio telecommunication base stations (cellular towers). In addition, the transistors are widely applied in the fields of radio, TV, science, medical treatment, industrial laser, air flow control and radar. | | 射频功率晶体管用于放大通讯设施的无线电信号，平均输出功率大于1瓦特，最高超过1千瓦特。在应用上，射频功率晶体管主要用于无线电通讯基站（蜂窝塔）接收和发射长距离射频信号，此外还广泛应用于广播电视、收音机、科学、医疗、工业激光、空气流动控制、雷达等领域。 |
| (2) Relevant geographic markets | | （二）相关地域市场。 |
The are no regulatory barriers in the trading of the commodities above on a global level while the proportion of transportation costs accounts for less than 1% in the product price. The production, supplies and procurement are implemented all around the worlds. Suppliers compete worldwide and customers adopts the strategy of cross-border procurement. Therefore, the relevant geographic market of the commodities above is the global market.
．．．．．． | | 上述商品全球层面的贸易不存在监管障碍，运输成本在产品价格中的占比不足1%，其生产、供应及采购均在全球范围内进行，供应商在全球范围内展开竞争，客户采用跨境采购策略。因此，上述商品的相关地域市场均为全球市场。
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