June 30 Koninklijke Philips Nv
* Will start the process to combine its lumileds (led components) and automotive lighting businesses into a stand-alone company within the Philips group.
* Will explore strategic options to attract capital from third party investors for this business
* Intends to remain a shareholder and customer of the new company, and will continue the existing innovation collaboration.
* Chief executive officer of the new company will be Pierre-Yves Lesaicherre, the current chief executive officer of lumileds.
* Expected to be completed in the first half of 2015.
* Costs associated with setting up the combined business are expected to amount to eur 30 million in the second half of 2014. Further company coverage: (Amsterdam Newsroom; +31 20 504 5000)