PHILIPS DIVESTS LG DISPLAY STAKE; LG DETAILS PLANT OUTPUT

摘要

Royal Philips Electronics has sold its remaining stake in LG Display Co., Ltd., to investors in a capital markets transaction. This transaction represents 13.2% of LG Display's issued share capital, or 47.2 million of common stock, and reduces Philips' holding to zero. The transaction will provide Philips with net proceeds of approximately EUR 630 million, and is expected to result in a non-taxable gain of approximately EUR 70 million in Q1/09, which will be recognized in financial income and expenses. According to the company, the transaction is in line with Philips' communicated strategy to dispose of its holding in LG Display in a structured, responsible manner.