June 30, 2014 / 5:11 AM / 3 years ago

BRIEF-Philips to merge LED and automotive lighting businesses

June 30 (Reuters) - 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)

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