AMSTERDAM: Philips plans to sell at least 25% of its lighting business, the world’s largest maker of lights, on the stock market to focus on its larger medical equipment operations, it said.
Chief executive Frans van Houten said it was an “historic” decision for the Dutch company, which began as a lighting company in 1891. Analysts have valued the unit at about 5 billion euros (US$5.8bil).
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
