Toys 'R' Us to go public again through $800M IPO

[May 28, 2010]  NEW YORK (AP) -- Toy retailer Toys "R" Us plans to go public again by raising as much as $800 million in an initial public offering.

The retailer of toys and other products for infants and children says in a securities filing that it will use the proceeds from the offering to pay off some of its debt and for general corporate purposes. It did not say how many shares it will sell.

Toys "R" Us Inc., based in Wayne, N.J., was acquired for $6.6 billion and taken private in 2005 by a group of investors led by Bain Capital, Kohlberg Kravis Roberts and Vornado Realty Trust as it was facing competitive pressure from discounters and Internet sales.

Toys "R" Us operates or licenses more than 1,500 stores under the Babies "R" Us, FAO Schwarz and its namesake banners.

[Associated Press]

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