Koninklijke Philips N.V.
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Publicatie datum
11 mrt 2009 - 14:46
Statutaire naam
Koninklijke Philips N.V.
Titel
Philips sells its remaining stake in LG Display for EUR 630 million
Bericht
March 11, 2009
PHILIPS SELLS ITS REMAINING STAKE IN LG DISPLAY FOR EUR 630 MILLION
Amsterdam, The Netherlands – Royal Philips Electronics (AEX: PHI, NYSE: PHG) today announced it has sold its remaining stake in LG Display Co., Ltd. (NYSE: LPL, KRX: 034220) to investors in a capital markets transaction. This transaction represents 13.2% of LG Display’s issued share capital, or 47.2 million of common stock, and reduces Philips’ holding to zero.
The transaction will provide Philips with net proceeds of approximately EUR 630 million, and is expected to result in a non-taxable gain of approximately EUR 70 million in the first quarter of 2009, which will be recognized in financial income and expenses.
This transaction is in line with Philips’ communicated strategy to dispose of its holding in LG Display in a structured and responsible manner.
For further information, please contact:
Joon Knapen
Philips Corporate Communications
Tel: +31 20 59 77477
Email: joon.knapen@philips.com
About Royal Philips Electronics
Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is a diversified Health and Well-being company, focused on improving people’s lives through timely innovations. As a world leader in healthcare, lifestyle and lighting, Philips integrates technologies and design into people-centric solutions, based on fundamental customer insights and the brand promise of “sense and simplicity”. Headquartered in the Netherlands, Philips employs approximately 121,000 employees in more than 60 countries worldwide. With sales of EUR 26 billion in 2008, the company is a market leader in cardiac care, acute care and home healthcare, energy efficient lighting solutions and new lighting applications, as well as lifestyle products for personal well-being and pleasure with strong leadership positions in flat TV, male shaving and grooming, portable entertainment and oral healthcare. News from Philips is located at www.philips.com/newscenter.
The offer and sale of secu
Datum laatste update: 16 december 2025