February 2, 2011 / 1:00 AM / in 7 years

Freescale chooses Citi, DB for IPO: source

NEW YORK/SAN FRANCISCO (Reuters) - Freescale Semiconductor Inc FSLSM.UL has chosen Deutsche Bank AG (DBKGn.DE) and Citigroup Inc (C.N) to act as underwriters on its upcoming initial public offering, a source familiar with the situation said on Tuesday.

Bloomberg News earlier reported the news.

Freescale did not immediately respond to a request for comment. Deutsche Bank and Citi declined to comment.

Freescale Chief Executive Rich Beyer said in December that he expected the company to launch an IPO in the first half of this year.

Austin, Texas-based Freescale was spun off from Motorola Inc in 2004. A consortium led by Blackstone Group (BX.N) took the company private in a $17.6 billion leveraged buyout in 2006. The consortium also included Carlyle Group CYL.UL and TPG Capital TPG.UL.

    Freescale makes chips for a wide range of uses, including cars, networking, and industrial and consumer products such as Amazon.com’s Kindle electronic-reader.

    The company’s revenue in 2010 rose 27 percent to $4.46 billion.

    Reporting by Megan Davies in New York, Gabriel Madway in San Francisco and Clare Baldwin in New York; Editing by Steve Orlofsky, Gary Hill

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