Philips Electronics to Sell Majority of Semiconductors Business

摘要

Royal Philips Electronics (Amsterdam)says it has signed an agreement to spin off its semiconductor business to private equity firms Kohlberg Kravis Roberts (KKR,New York),Silver Lake Partners (New York),and Alplnvest Partners (Amsterdam).The deal values the company at poun 8.3 billion (10.7 billion).The private equity firms have agreed to buy 80.1 % stake in the business for a purchase price of poun 3.4 billion in cash.Philips Electronics will keep the remaining 19.9% stake in the business.The deal is expected to close in the fourth quarter,subject to closing conditions,including governmental and regulatory approvals.