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BRIEF-‍Royal Philips Announces Intended Sale Of Part Of Its Stake In Philips Lighting​
November 28, 2017 / 4:54 PM / 16 days ago

BRIEF-‍Royal Philips Announces Intended Sale Of Part Of Its Stake In Philips Lighting​

Nov 28 (Reuters) - KONINKLIJKE PHILIPS NV:

* ‍ROYAL PHILIPS ANNOUNCES INTENDED SALE OF PART OF ITS STAKE IN PHILIPS LIGHTING​

* ‍LAUNCH OF AN ACCELERATED BOOKBUILD OFFERING TO INSTITUTIONAL INVESTORS OF APPROXIMATELY 17.1 MILLION SHARES IN PHILIPS LIGHTING N.V.​

* SAYS INTENDED TRANSACTION IS IN LINE WITH STATED OBJECTIVE TO FULLY SELL DOWN ITS STAKE IN PHILIPS LIGHTING OVER NEXT YEARS‍​

* ‍SHARES REPRESENTING APPROXIMATELY 12% OF PHILIPS LIGHTING‘S ISSUED SHARE CAPITAL​

* TRANSACTION IS EXPECTED TO SETTLE ON FRIDAY 1 DECEMBER, 2017

* ‍PHILIPS LIGHTING HAS IRREVOCABLY COMMITTED TO PLACE AN ORDER IN OFFERING TO REPURCHASE 2.8 MILLION SHARES​

* THE BOOK IS OPEN WITH IMMEDIATE EFFECT, TRANSACTION EXPECTED TO SETTLE ON FRIDAY 1 DEC, 2017‍​

* ‍IF ALL OFFERED SHARES ARE SOLD, THIS STAKE WILL BE REDUCED TO APPROXIMATELY 29.01%​

* ‍PHILIPS LIGHTING WILL NOT RECEIVE ANY PROCEEDS FROM OFFERING. Further company coverage: (Gdynia Newsroom)

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