February 26, 2018 / 5:02 PM / 4 months ago

BRIEF-Koninklijke Philips Announces Intended Sale Of Part Of Its Stake In Philips Lighting‍​

* ROYAL PHILIPS ANNOUNCES INTENDED SALE OF PART OF ITS STAKE IN PHILIPS LIGHTING‍​

* ACCELERATED BOOKBUILD OFFERING TO INSTITUTIONAL INVESTORS OF APPROXIMATELY 16.2 MILLION SHARES IN PHILIPS LIGHTING N.V

* SHARES ARE CURRENTLY OWNED BY ROYAL PHILIPS

* SHARES REPRESENTING APPROXIMATELY 11.6% OF PHILIPS LIGHTING’S ISSUED SHARE CAPITAL‍​

* TRANSACTION IS EXPECTED TO SETTLE ON MARCH 1, 2018

* AGREED TO A LOCK‐UP IN RESPECT OF ITS REMAINING STAKE IN PHILIPS LIGHTING UNTIL PUBLICATION OF PHILIPS LIGHTING’S Q1 RESULTS

* ABN AMRO BANK N.V., GOLDMAN SACHS INTERNATIONAL, SOCIÉTÉ GÉNÉRALE CORPORATE & INVESTMENT BANKING AND MORGAN STANLEY & CO. INTERNATIONAL PLC ARE ACTING AS JOINT BOOKRUNNERS FOR THE TRANSACTION

* AS PART OF THE TRANSACTION, PHILIPS LIGHTING HAS IRREVOCABLY COMMITTED TO PLACE AN ORDER IN THE OFFERING TO REPURCHASE 2.2M SHARES Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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