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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Koninklijke Philips NV | NYSE:PHG | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.0199 | 0.07% | 26.7299 | 26.83 | 26.66 | 26.83 | 606,399 | 14:39:56 |
From Apr 2019 to Apr 2024
By Ian Walker
Koninklijke Philips NV (PHG) said Monday it agreed to sell an 80.1% interest in LED components and automotive lighting supplier Lumileds for $1.5 billion and a participating preferred equity that entitles it to a share of future returns.
The Dutch health technology company said it would sell the interest to funds managed by affiliates of Apollo Global Management LLC (APO). Philips will keep the remaining 19.9% interest for a minimum of three years after the Apollo deal, which values Lumileds at $2 billion, is completed.
The deal is expected to be completed in the first half of 2017, subject to customary closing conditions, including the relevant regulatory approvals, Philips said.
Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
(END) Dow Jones Newswires
December 12, 2016 02:01 ET (07:01 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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