December 12, 2016 / 6:38 AM / 7 months ago

BRIEF-Koninklijke Philips to sell majority interest in Lumileds

1 Min Read

Dec 12 (Reuters) - Koninklijke Philips NV :

* To sell majority interest in Lumileds to funds managed by affiliates of Apollo Global Management

* Announced that it has signed an agreement to sell an 80.1 pct in Lumileds

* Will retain the remaining 19.9 pct interest in Lumileds

* The transaction values Lumileds at an enterprise value of approximately 2 billion dollars, including debt and debt-like items

* Expects to receive cash proceeds, before tax and transaction-related costs, of approximately 1.5 billion dollars and participating preferred equity

* The transaction is expected to be completed in the first half of 2017 Source text: philips.to/2gChiCY Further company coverage: (Gdynia Newsroom)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below