Billionaire Agnellis Boost Stake in Philips to $4.19 Billion
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Italy’s billionaire Agnelli family raised its holding in Royal Philips NV, giving it a stake worth $4.19 billion, in a signal of increased confidence in the Dutch medical device manufacturer.
The Agnellis’ Exor NV now owns 17.51% of Philips, according to a US regulatory filing late Tuesday. It held 16.1% as of May 16 and was already the company’s largest shareholder.