February 26, 2019 / 12:56 PM / 8 months ago

BRIEF-Philips discloses $73.4 mln LGE claim relating to 2012 fine

Feb 26 (Reuters) - Philips in annual report 2018 says:

* LG Electronics (LGE) claims restitution of 64.6 million euros ($73.4 million) from Philips

* Claim represents portion of the fine that LGE paid to the European Commission relating to the joint venture LG.Philips Displays

* The European Commission fined Philips, LGE and several other display makers in 2012 for price fixing

* Philips received a fine of 313 million euros, while Philips and LGE together had to pay 392 million euros

* LGE filed the claim in the Seoul Central District Court on January 29, 2019

* LGE alleges that based on the manner in which the fine was calculated, Philips should have paid proportionately more than it has.

$1 = 0.8800 euros Reporting by Bart Meijer

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