London – LawFuel – Legal Newswire – Allen & Overy LLP is advising STMicroelectronics on the merging of Ericsson Mobile Platforms and ST-NXP Wireless into a 50:50 joint venture, which will create a world leader in mobile platforms and semiconductor solutions. The joint venture will employ almost 8,000 people with pro-forma 2007 sales of USD3.6 billion. The joint venture will be an important supplier to Nokia, Samsung, Sony Ericsson, LG and Sharp.
In the joint venture, ST contributes its industry-leading multimedia and connectivity solutions as well as a complete world-class 2G/EDGE platform and strong 3G offering, including customer relationships with Nokia, Samsung, and Sony Ericsson. Ericsson contributes its industry-leading 3G and LTE platform technology as well as customer relationships with Sony Ericsson, LG and Sharp.
The Allen & Overy team is being led Corporate partners Alan Paul and Alun Eynon-Evans, assisted by Andrew Perry and Victoria Bradin. Pensions associate James Gulliford and tax associate Alice Gamble are also advising on the transaction.