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4 months ago
BRIEF-Koninklijke Philips to sell part of its stake in Philips Lighting
April 25, 2017 / 3:56 PM / 4 months ago

BRIEF-Koninklijke Philips to sell part of its stake in Philips Lighting

April 25 (Reuters) - Koninklijke Philips NV:

* Announces intended sale of part of its stake in Philips Lighting

* Launch of an accelerated bookbuild offering to institutional investors of approximately 22.25 million shares in Philips Lighting N.V.

* 22.25 million shares in Philips Lighting N.V. representing approximately 14.8 pct of Philips Lighting's issued share capital

* Offer price and final number of shares sold will be determined by royal philips at conclusion of bookbuilding process and will be announced in separate press release

* Philips Lighting will not receive any proceeds from offering

* ABN Amro, J.P. Morgan, Societe Generale Corporate & Investment Banking and UBS are acting as joint bookrunners for the transaction Further company coverage: (Gdynia Newsroom:)

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