Wednesday September 23, 2020

Philips to sell 25 per cent of lighting division

Business could be worth as much as €3.4 billion

16th May, 2016
Philips flicks switch on lighting offer Pic Getty

Dutch-based consumer goods and electronics company Philips is seeking to raise as much as €970m from the initial public offering of a 25 per cent stake in its lighting unit in Amsterdam after a private sale process did not result in a deal.

Philips is planning to sell 37.5 million shares at a range of between €18.50 and €22.50 per share, the Amsterdam-based company said in a statement this morning. That values the lighting business...

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