Deals
Philips Intends IPO for Lighting Division in Health Care Bet
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Royal Philips NV’s split with its lighting division will probably involve selling shares in the unit as the Dutch manufacturer shifts focus to health technology.
“It is the current intention to effectuate the separation of the lighting business through an initial public offering,” though other options for the division are still being reviewed, including a private sale, Amsterdam-based Philips said in a statement Tuesday outlining the agenda for its May 7 annual shareholders meeting.