Philips to Sell Lighting-Division Stake for $2.8 Billion

March 31, 2015 6:20 AM

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Philips to Sell Lighting-Division Stake for $2.8 Billion

(Bloomberg) -- Royal Philips NV agreed to sell a majority stake in its Lumileds lighting components unit to a group of investors as Chief Executive Officer Frans van Houten focuses the Dutch company on the consumer health-care market.

The company will receive $2.8 billion for the 80.1 percent stake it agreed to sell to Go Scale Capital, the Amsterdam-based company said in a statement today. Go Scale is a fund sponsored by GSR Ventures, which has offices in Beijing, Hong Kong and Silicon Valley, and Oak Investment Partners. Philip...

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