Philips sells remaining stake in LG Display

The $794 million transaction is priced at a 7.9% discount and nets the Dutch seller an $89 million profit.

Royal Philips Electronics last night sold its remaining shares in Korea's LG Display, raising a total of W1.2 trillion $794 million. The sell-down was the final leg of a multiple deal exit by Philips from the Korean manufacturer of thin-film transistor liquid crystal displays TFT-LCDs and came almost one year to the day after its previous sale.

It also resumed the theme of substantial shareholders monetising non-core assets, which started off strongly at the beginning of the year...

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