philips-sells-remaining-stake-in-lg-display

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 but has been less prominent since mid-February as the equity markets have become more volatile. The trend is expected to remain a key feature throughout this year, however, and Philips' successful trade last night is...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222