philips sale of lighting unit cancelled because of us concerns
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Philips sale of lighting unit cancelled because of US concerns

Arab Today, arab today

Arab Today, arab today Philips sale of lighting unit cancelled because of US concerns

Dutch electronics giant Philips
The Hague - AFP

Dutch electronics giant Philips said on Friday the planned $2.8-billion sale of its Lumileds 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.

"We will now engage with other parties that have expressed an interest in exploring strategic options for Lumileds," Philips chief executive Frans van Houten said in a statement.

Philips and GO Scale have now withdrawn their CFIUS filing, the Dutch company said, calling the US regulatory concerns "unforeseen".

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

philips sale of lighting unit cancelled because of us concerns philips sale of lighting unit cancelled because of us concerns

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

philips sale of lighting unit cancelled because of us concerns philips sale of lighting unit cancelled because of us concerns

 



GMT 12:25 2017 Wednesday ,15 November

Poisson hit tree in training crash death - federation

GMT 19:45 2018 Sunday ,02 September

Japanese golden girl Ikee becomes first female MVP

GMT 17:34 2017 Friday ,31 March

BET13 champ speaks

GMT 23:55 2017 Thursday ,26 October

ADX to host annual forum for listed companies

GMT 07:28 2017 Tuesday ,14 February

It’s a wet, rainy day in the UAE for next 2 days

GMT 18:06 2017 Tuesday ,24 October

ADX launches Technical Short Selling service

GMT 12:40 2017 Wednesday ,26 April

Indian Kashmir blocks social media after clashes
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday