Philips plans to sell off the remaining 20% of its shares in chip maker NXP or transfer its stake to its pension fund, the Financieele Dagblad reports on Friday.

The paper says it bases its claim on filings with the US Securities and Exchange Commission (SEC).
Last Friday NXP’s majority shareholders, which include KKR and Bain Capital, filed to float some 14% of the company on the Nasdaq exchange. The aim is to raise up to $714m which will be used to pay off debts.
The FD says Philips could then sell its stake after the lock-up period following the flotation. That usually runs to 180 days, the paper says.
Philips, which said earlier NXP is not one of its core activities, declined to comment on the potential sale or the reasoning behind shifting the shares to its pension fund, the FD said.