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4) of 4 | | Murali Sivaraman will join the company on July 2, 2007 as CEO Designate, Indian Subcontinent | | | Royal Philips Electronics (NYSE:PHG, AEX:PHI) announced today that it has completed its sale of an 80.1% stake in its Semiconductors business to a private equity consortium consisting of Kohlberg Kravis Roberts & Co. (KKR), Silver Lake Partners, Bain Capital, Apax Partners and AlpInvest Partners NV. Under the terms of the agreement, which was announced on August 3, 2006, Philips sold an 80.1% stake in its Semiconductors business, and estimates that, after subsequent payment of taxes, it will receive approximately EUR 6.4 billion in cash. This transaction puts the enterprise value of the entire stand-alone semiconductors company - now known as NXP - at approximately EUR 8.3 billion. | | | Royal Philips Electronics (NYSE:PHG, AEX: PHI) today announced the intention of the company to reduce its ownership share in its Semiconductors division in the course of the second half of 2006 to a minority stake through an IPO of the company and/or sale of shares to financial investors, while continuing to evaluate industry consolidation opportunities.
In December 2005 Philips announced that its Semiconductors division would be legally separated in order to generate value to Philips' shareholders and to provide better ability to the division to achieve its business renewal objectives and become a stronger company. | | | Philips Research today announced the end of successful trials of a woodstove for cooking in communities currently relying on less efficient means. The stove cuts the smoke and toxic emissions which are claimed to cause 1.6 million deaths a year. It also burns more efficiently to reduce the load on the existing energy supply chain, without involving dependence on non-renewable energy sources. The stove could benefit up to 300 million families in the world’s poorest regions. |
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