September 19, 2019 / 3:54 PM / 2 months ago

Philips to sell remaining 10.7% stake in Signify lighting

AMSTERDAM, Sept 19 (Reuters) - Philips, the Dutch medical equipment company, said on Thursday it plans to sell the remaining 10.7% stake it holds in Signify, its former lighting division.

In a statement, Philips announced the launch of an accelerated bookbuilding to sell 13.8 million shares in Signify.

Morgan Stanley is acting as bookrunner and Rothschild is advising Philips, with the transaction expected to settle on Sept. 24, Philips said. (Reporting by Toby Sterling Editing by Chris Reese)

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