08-02-2017 19:14 via news.yahoo.com

Philips to sell 15 percent stake in Lighting unit in line with plan

(Reuters) - Philips said on Wednesday it will sell 14.8 percent stake in Philips Lighting , eight months after a successful spin-off and stock market listing of the unit, in line with its plan to exit fully in two years. Philips, set up in 1891 as a maker of light bulbs before expanding into consumer electronics, spun off the lighting business in May by selling 25 percent stake, making Philips Lighting the world's largest independent lighting maker. Shares in Philips Lighting have risen 20 perce
Read more »