Guernsey, Channel Islands, United Kingdom
KKR Private Equity Investors, L.P. (Amsterdam: KPE) announced that it has invested approximately $282.3 million in connection with the publicly announced transaction to acquire, by an investor group that includes Kohlberg Kravis Roberts & Co. (KKR), a controlling stake in the semiconductors business of Royal Philips Electronics, formerly known as Philips Semiconductors International B.V. The semiconductors business has been renamed NXP B.V.
Royal Philips Electronics recently announced the closing of this transaction, pursuant to which a consortium that includes KKR, Silver Lake Partners, Bain Capital, Apax Partners and AlpInvest Partners NV acquired an 80.1% stake in NXP B.V. and Royal Philips Electronics retained a 19.9% stake in NXP B.V.
The $282.3 million total investment was comprised of a $250.0 million co-investment and $32.3 million of capital contributions to KKR-sponsored private equity funds. The amount invested by KPE in NXP B.V. represents approximately 6.0% of KPE's net asset value as of August 30, 2006.
About KPE
KKR Private Equity Investors, L.P. (KPE) is a Guernsey-based limited partnership that seeks to create long-term value primarily by participating in private equity investments sponsored by KKR. Formed in April 2006 to provide complementary capital for KKR-sponsored private equity funds, KPE enables certain non-U.S. public market investors and certain other qualified investors to invest in select KKR-sponsored investments. KPE plans to invest at least 75% of its assets in KKR-sponsored private equity investments. Up to 25% of KPE's assets may be committed to opportunistic and other investments identified by KKR, which are outside the scope of KKR's traditional private equity investments. KPE makes its investments through KKR PEI Investments, L.P., a Guernsey limited partnership.
The common units and related restricted depositary units of KPE are subject to a number of ownership and transfer restrictions, including restrictions that limit the ability of U.S. persons to acquire or hold such securities. Information concerning these ownership and transfer restrictions is included on the Investor Relations section of KPE's website at www.kkrpei.com.
Forward-Looking Statements
This release may contain certain forward-looking statements with respect to the financial condition, results of operations, liquidity, investments, business and prospects of KPE. By their nature, forward-looking statements involve risk and uncertainty, because they relate to events and depend on circumstances that will occur in the future and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.
CONTACT: Investor Contact: Integrated Corporate Relations Andrew Greenebaum +1-310-954-1100 or Media Contacts: In the U.S.: Kekst and Company Mark Semer +1-212-521-4800 or In Europe: Finsbury Simon Moyse +44-207-251-3801
CONTACT: Investor Contact: Integrated Corporate Relations Andrew Greenebaum +1-310-954-1100 or Media Contacts: In the U.S.: Kekst and Company Mark Semer +1-212-521-4800 or In Europe: Finsbury Simon Moyse +44-207-251-3801 , ,
Source: Business Wire (Business Wire India)