UPDATE 2-KKR, Bain’s NXP files for $1.15 bln IPO

* Kaslion to change name to NXP Semiconductors N.V.

* Will use proceeds to repay debt
(Adds details on ownership, PE pipeline, adds datelines)

NEW YORK/BANGALORE, April 16 (BestGrowthStock) – Dutch
semiconductor company NXP Semiconductors N.V. on Friday filed
with U.S. regulators for an initial public offering of up to
$1.15 billion.

NXP, which filed under the name Kaslion Acquisition B.V.,
said it would change its name to NXP.

Private equity investors including Kohlberg Kravis Roberts
& Co [KKR.UL], Bain Capital, Silver Lake Partners, Apax and
AlpInvest Partners bought an 80 percent stake in the company in
2006 from Koninklijke Philips Electronics NV (PHG.AS: ).

Koninklijke Philips currently has about a 20 percent stake
in the company.

The U.S. IPO market has greatly improved in the past few
weeks and private equity firms are combing through their
portfolios for companies that might be ready to be taken

The “window” for private equity-backed IPOs cracked open
late last year but was largely shut during the financial

Retailer Toys R Us, healthcare firm HCA and Dunkin Donuts
are also expected to file soon for IPOs.

Eindhoven, Netherlands-based Kaslion posted a net loss of
$161 million in the year ended Dec. 31, compared with a loss of
$3.57 billion a year earlier.

The company said it will use proceeds from the offering to
repay debt.

Underwriters are being led by Credit Suisse, Goldman Sachs
& Co and Morgan Stanley.

KKR was not listed as an underwriter on the deal. The firm,
which was one of the underwriters on the IPO of its portfolio
company Dollar General Corp (DG.N: ) last year, has the ability
to underwrite deals through an alliance it struck with Fidelity
in 2009. That means it could be one of the underwriters on the
upcoming HCA IPO.

HCA, also owned by Bain Capital and Bank of America, is
currently in the process of selecting banks for its upcoming
IPO, sources have previously told Reuters.

Investing Basics

(Reporting by Clare Baldwin and Megan Davies in New York and
Archana Shankar in Bangalore; Editing by Gary Hill)

UPDATE 2-KKR, Bain’s NXP files for $1.15 bln IPO