Freescale which has been spun-out, sold and IPO’d twice in the last decade is now up for sale again, reports Bloomberg.
It is reported that Freescale has hired a bank to help it find a buyer, and a possible buyer, it is said, is Samsung.
Freescale was bought in 2006 by private equity fund Blackstone for $17.6 billion. Blackstone loaded up the company with $10 billion of debt.
Nine years later, there is still $5.5 billion owing.
Freescale’s sales have been shrinking ever since the Blackstone purchase. In 2006, the company had sales of $6.4 billion. In 2014, it had sales of $4.6 billion.
EBITDA last year was $1.09 billion.
Freescale’s market cap is $10.6 billion.
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