Arab Today, arab today philipssale of lighting unit to us group cancelled
Last Updated : GMT 06:18:52
Arab Today, arab today
Arab Today, arab today

Philips sale of lighting unit to US group cancelled

Arab Today, arab today

Arab Today, arab today Philips  sale of lighting unit to US group cancelled

Dutch economy
The Hague - Arab Today

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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