Philips sells $2.2 billion stake in LG.Philips

The block is priced at the bottom but still achieves a 3.5% discount. Meanwhile, KDIC divests its entire stake in Doosan Infracore at a 0% discount.

Royal Philips Electronics last night sold a 13% stake in KoreaÆs LG.Philips LCD through a well-flagged capital markets transaction, reaping total proceeds of W2.015 trillion $2.2 billion.

The deal, which was jointly arranged by Citi and Credit Suisse, was launched with an aggressive price range that represented a discount of only 1% to 3.5% versus yesterdayÆs closing price of W45,000 and not surprisingly, the final price was fixed to allow for the maximum 3.5% discount. However, for a...

To continue reading, please login or register for free

Print Edition

FinanceAsia Print Edition


  • Green Bonds Southeast Asia

    25 May 2017  |  Singapore
    With Green Bonds globally reaching USD200 billion outstanding in 2016, from as little as 30bn just 4 years ago, can SE Asia corporations and ...
  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...