Philips (PHG.AS) said on Monday the sale of its $3.3-billion Lumileds business to Go Scale Capital was uncertain, due to U.S. government concerns. Philips had announced in March an agreement to sell a stake of 80.1 percent in the business to Go Scale Capital, an investment fund of Asian private equity firms. “Philips and Go Scale Capital will continue to engage with CFIUS and will take all reasonable steps to address its concerns, but given these, the closing of the transaction is uncertain,” Philips said.
Published in TZ Latest News 25 October, 2015 by The TZ Newswire Staff
Philips $3.3-billion sale of Lumileds to Go Scale in doubt
Published in TZ Latest News 25 October, 2015 by The TZ Newswire Staff
Philips $3.3-billion sale of Lumileds to Go Scale in doubt
Philips (PHG.AS) said on Monday the sale of its $3.3-billion Lumileds business to Go Scale Capital was uncertain, due to U.S. government concerns. Philips had announced in March an agreement to sell a stake of 80.1 percent in the business to Go Scale Capital, an investment fund of Asian private equity firms. “Philips and Go Scale Capital will continue to engage with CFIUS and will take all reasonable steps to address its concerns, but given these, the closing of the transaction is uncertain,” Philips said.