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Philips sells TPV stake for $133 million

Philips sells TPV stake for $133 million

Royal Philips Electronics NV said Friday it has agreed to sell most of its equity stake in Hong Kong-based TPV Technology Ltd. for (EURO)95 million ($133 million).
Philips said it will sell a 9.47 percent stake in TPV, a maker of monitors and LCD screens, to China Electronics Corp.
The transaction leaves Philips with a 2.99 percent stake in TPV, plus convertible bonds with a face value of $211 million.


Updated : 2021-04-15 17:09 GMT+08:00