Philips sale of lighting unit to US group cancelled
Dutch economy
The Hague - Arab Today
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Dutch electronics giant Philips said on Friday the planned $2.8-billion sale of its lighting unit to GO Scale Capital has been cancelled because of US regulatory concerns. Both companies failed to convince the Committee on Foreign Investment in the United States (CFIUS) to clear the deal, Philips said, adding that it is seeking another buyer for the unit. |
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