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Philips CEO sees Lumileds disposal this year for less than $3.3 bln
January 26, 2016 / 7:17 AM / 2 years ago

Philips CEO sees Lumileds disposal this year for less than $3.3 bln

AMSTERDAM, Jan 26 (Reuters) - Dutch medical equipment and lighting group Philips is likely to sell its Lumileds division in the second half of this year at a lower price than the $3.3 billion it had initially envisaged, Chief Executive Frans van Houten said on Tuesday.

Last week Philips said a deal to sell the Lumileds lighting business to Go Scale Capital had been blocked by the United States for undisclosed security reasons.

On a call with journalists after the company reported fourth-quarter earnings, Van Houten also said that the company expects a modest start to 2016 and that its lighting sales will begin growing in the second half. (Reporting by Toby Sterling; Editing by David Goodman)

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