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BRIEF-Royal Philips says to sell 17.1 mln shares in Philips Lighting ‍​
November 28, 2017 / 4:49 PM / 13 days ago

BRIEF-Royal Philips says to sell 17.1 mln shares in Philips Lighting ‍​

Nov 28 (Reuters) - Koninklijke Philips NV:

* ANNOUNCES LAUNCH OF ACCELERATED BOOKBUILD OFFERING OF ABOUT 17.1 MILLION SHARES IN PHILIPS LIGHTING N.V. CURRENTLY OWNED BY ROYAL PHILIPS ‍​

* AS PART OF TRANSACTION, PHILIPS LIGHTING IRREVOCABLY COMMITTED TO PLACE AN ORDER IN OFFERING TO REPURCHASE 2.8 MILLION SHARES‍​

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

* PHILIPS LIGHTING WILL NOT RECEIVE ANY PROCEEDS FROM THE OFFERING

* TRANSACTION IS IN LINE WITH ROYAL PHILIPS’ STATED OBJECTIVE TO FULLY SELL DOWN ITS STAKE IN PHILIPS LIGHTING OVER NEXT YEARS Further company coverage: (Bengaluru Newsroom: +91 80 6749 1136)

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