Sec Form 4 Filing - SILVER LAKE (OFFSHORE) AIV GP II LTD @ Avago Technologies LTD - 2012-12-12

Insider filing report for Changes in Beneficial Ownership
"Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise"
- Peter Lynch
What is insider trading>>
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Expires: November 30, 2011
Estimated average burden hours per response... 0.5
1. Name and Address of Reporting Person
SILVER LAKE (OFFSHORE) AIV GP II LTD
2. Issuer Name and Ticker or Trading Symbol
Avago Technologies LTD [ AVGO]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
_____ Officer (give title below) X __ Other (specify below)
See Footnotes (1) - (6)
(Last) (First) (Middle)
C/O SILVER LAKE PARTNERS, 2775 SAND HILL ROAD, SUITE 100
3. Date of Earliest Transaction (MM/DD/YY)
12/12/2012
(Street)
MENLO PARK, CA94025
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
_____ Form filed by One Reporting Person
__ X __ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Ordinary Shares, no par value 12/12/2012 S 9,568,592 D $ 34.43 130,000 I Held through Silver Lake Partners II Cayman, L.P. ( 1 ) ( 2 ) ( 5 ) ( 6 )
Ordinary Shares, no par value 12/12/2012 J( 7 ) 130,000 D $ 0 0 I Held through Silver Lake Partners II Cayman, L.P. ( 1 ) ( 2 ) ( 5 ) ( 6 )
Ordinary Shares, no par value 12/12/2012 S 27,734 D $ 34.43 0 I Held through Silver Lake Technology Investors II Cayman, L.P. ( 1 ) ( 3 ) ( 5 ) ( 6 )
Ordinary Shares, no par value 12/12/2012 S 1,506,428 D $ 34.43 0 I Held through Avago Investment Partners, Limited Partnership( ( 1 ) ( 4 ) ( 5 ) ( 6 )
Ordinary Shares, no par value 54,938 D ( 8 )
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
SILVER LAKE (OFFSHORE) AIV GP II LTD
C/O SILVER LAKE PARTNERS
2775 SAND HILL ROAD, SUITE 100
MENLO PARK, CA94025
See Footnotes (1) - (6)
SILVER LAKE TECHNOLOGY ASSOCIATES II CAYMAN LP
C/O SILVER LAKE PARTNERS
2775 SAND HILL ROAD, SUITE 100
MENLO PARK, CA94025
See Footnotes (1) - (6)
SILVER LAKE PARTNERS II CAYMAN LP
C/O SILVER LAKE PARTNERS
2775 SAND HILL ROAD, SUITE 100
MENLO PARK, CA94025
See Footnotes (1) - (6)
SILVER LAKE TECHNOLOGY INVESTORS II CAYMAN LP
C/O SILVER LAKE PARTNERS
2775 SAND HILL ROAD, SUITE 100
MENLO PARK, CA94025
See Footnotes (1) - (6)
Hao Kenneth
C/O SILVER LAKE PARTNERS
2775 SAND HILL ROAD, SUITE 100
MENLO PARK, CA94025
See Footnotes (1) - (6)
Signatures
/s/ Karen M. King, Director of Silver Lake (Offshore) AIV GP II, Ltd. 12/12/2012
Signature of Reporting Person Date
/s/ Karen M. King, Director of Silver Lake (Offshore) AIV GP II, Ltd., General Partner of Silver Lake Technology Associates II Cayman, L.P. 12/12/2012
Signature of Reporting Person Date
/s/ Karen M. King, Director of Silver Lake (Offshore) AIV GP II, Ltd., General Partner of Silver Lake Technology Associates II Cayman, L.P., General Partner of Silver Lake Partners II Cayman, L.P. 12/12/2012
Signature of Reporting Person Date
/s/ Karen M. King, Director of Silver Lake (Offshore) AIV GP II, Ltd., General Partner of Silver Lake Technology Investors II Cayman, L.P. 12/12/2012
Signature of Reporting Person Date
/s/ Karen M. King for Attorney-in-fact for Kenneth Y. Hao 12/12/2012
Signature of Reporting Person Date
Explanation of Responses:
( 1 )Certain funds affiliated with Kohlberg Kravis Roberts & Co. L.P. ("KKR") and certain funds affiliated with Silver Lake Partners ("Silver Lake") are parties to a shareholders agreement with respect to the ordinary shares of Avago, and solely as a result of which each such person is a member of a group with respect to the ordinary shares of Avago directly or indirectly owned by such persons. Each such person disclaims beneficial ownership of these securities, except to the extent of its pecuniary interest therein.
( 2 )As the sole general partner of Silver Lake Partners II Cayman, L.P. ("Partners II"), Silver Lake Technology Associates II Cayman, L.P. may be deemed to share voting and dispositive power with respect to the ordinary shares of Avago directly owned by Partners II. As the sole general partner of Silver Lake Technology Associates II Cayman, L.P., Silver Lake (Offshore) AIV GP II, Ltd. may be deemed to share voting and dispositive power with respect to the ordinary shares of Avago directly owned by Partners II. Silver Lake Technology Associates II Cayman, L.P. and Silver Lake (Offshore) AIV GP II, Ltd. disclaim beneficial ownership of such securities, except to the extent of their pecuniary interest.
( 3 )As the sole general partner of Silver Lake Technology Investors II Cayman, L.P. ("Investors II"), Silver Lake (Offshore) AIV GP II, Ltd. may be deemed to share voting and dispositive power with respect to the ordinary shares of Avago directly owned by Investors II. Silver Lake (Offshore) AIV GP II, Ltd. disclaims beneficial ownership of such securities, except to the extent of its pecuniary interest.
( 4 )As the sole general partner of Avago Investment Partners, Limited Partnership ("AIP"), Avago Investment G.P., Limited may be deemed to share voting and dispositive power with respect to the ordinary shares of Avago directly owned by AIP. As a member of Avago Investment G.P., Limited, Silver Lake (Offshore) AIV GP II, Ltd. may be deemed to share voting and dispositive power with respect to the ordinary shares of Avago directly owned by AIP. Avago Investment G.P., Limited and Silver Lake (Offshore) AIV GP II, Ltd. disclaim beneficial ownership of such securities, except to the extent of their pecuniary interest.
( 5 )Mr. Kenneth Y. Hao, who serves as a director of Avago, also serves as a director of Silver Lake (Offshore) AIV GP II, Ltd. and may be deemed to share voting and dispositive power with respect to any shares beneficially owned by Silver Lake (Offshore) AIV GP II, Ltd. but disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein. Mr. Hao remains subject to Section 16 reporting obligations.
( 6 )The filing of this statement shall not be deemed an admission that, for purposes of Section 16 of the Securities Exchange Act of 1934 or otherwise, any of the Reporting Persons is the beneficial owner of all such equity securities covered by this statement.
( 7 )130,000 ordinary shares of Avago were distributed by Partners II through Silver Lake Technology Associates II Cayman, L.P., the general partner of Partners II, as a payment-in-kind distribution to certain partners of Silver Lake Technology Associates II Cayman, L.P. for the sole purpose of charitable giving.
( 8 )These shares are held directly by Kenneth Y. Hao. Pursuant to Mr. Hao's arrangement with Silver Lake with respect to director compensation, the proceeds from the sale of these shares are expected to be remitted to Silver Lake. Accordingly, Mr. Hao disclaims beneficial ownership of such shares.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.