The Traderszone Network

Published in TZ Latest News 30 March, 2015 by The TZ Newswire Staff

Philips sells 80.1 percent of lighting components unit for $2.8 billion

Philips (PHG.AS) has agreed to sell an 80.1 percent stake in its lighting components division for $2.8 billion to Go Scale Capital, a technology fund that will seek to build the company’s automotive LED business. The deal announced on Tuesday is a prelude to an even bigger strategic move for Philips: spinning off its main lighting division, the world’s largest lighting maker, via a stock market flotation, as the Dutch group focuses on medical technology and selected consumer electronics.

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