philips to sell lumileds majority share for 15bn
Last Updated : GMT 06:49:16
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Last Updated : GMT 06:49:16
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Philips to sell Lumileds majority share for $1.5bn

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Arab Today, arab today Philips to sell Lumileds majority share for $1.5bn

The Hague economy
The Hague - Arab Today

Dutch electronics giant Philips announced Monday the sale of a majority share in its Lumileds lighting business for $1.5 billion, after cancelling the sale earlier this year over US regulatory concerns.

"Royal Philips today announced that it has signed an agreement to sell an 80.1-percent interest in Lumileds to certain funds managed by affiliates of (US-based) Apollo Global Management," the Amsterdam-based company said in a statement. 

"Philips expects to receive cash proceeds, before tax and transaction-related costs, of approximately $1.5 billion (1.41 million euros) and participating preferred equity," it said.

 
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philips to sell lumileds majority share for 15bn philips to sell lumileds majority share for 15bn

 



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philips to sell lumileds majority share for 15bn philips to sell lumileds majority share for 15bn

 



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