US buyout group Kohlberg Kravis Roberts has pledged its confidence in the flagging semiconductors industry by re-investing the proceeds of a divestment at portfolio company NXP in the remaining business units.
Sources close to the situation said KKR and its other buyout co-owners would re-invest the $1.6bn (â¬1bn) generated by a sale of NXP's wireless division to a rival. Some of the cash would be used to fund bolt-on acquisitions in a bid to consolidate the sector.
