Philips to Sell at Least 25 Percent of Lighting Arm in IPO - Energy Watch News


Philips to Sell at Least 25 Percent of Lighting Arm in IPO

It will sell the remainder over a period of years. CEO Frans van Houten said it was an “historic” decision for the Dutch company, which began as a lighting company in 1891. Analysts have valued the unit at about $5.8 billion. Philips dropped the word “electronics” from its name in 2013, and has gradually disposed of most of the consumer products it was once known for, though it retains its shaver and toothbrush operations under a “personal health” division. Some analysts have said a separate Philips lighting business could tie-up with rival Osram as the two battle price pressures in LED lighting and the decline of traditional bulbs. The remaining healthcare-dominated business has also been tipped as a possible target for General Electric. http://www.reuters.com/article/us-philips-ipo-idUSKCN0XU097

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