Philips executes sale of stake in FEI Company
Friday, December 15, 2006
Amsterdam, The Netherlands– Royal Philips Electronics (NYSE:PHG, AEX:PHI) today announced the sale of 8.4 million shares of common stock in FEI Company (NASDAQ: FEIC). All of the shares included in this offering were sold by Philips Business Electronics International B.V. The sale will provide Philips with net proceeds of approximately EUR 155 million. As a result of this transaction, the company will book a non-taxable gain of approximately EUR 75 million in its earnings for the fourth quarter of 2006.
This offering by Philips of FEI Company shares was announced on November 30, 2006, and priced on December 14, 2006 at USD 25.0 per share of common stock. Upon closing of the transaction, which is scheduled for Wednesday, December 20, 2006, Philips will have reduced its shareholding in FEI to zero.
About Royal Philips Electronics
Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is a global leader in healthcare, lifestyle and technology, delivering products, services and solutions through the brand promise of “sense and simplicity”. Headquartered in the Netherlands, Philips employs approximately 126,000 employees in more than 60 countries worldwide. With sales of EUR 30.4 billion in 2005, the company is a market leader in medical diagnostic imaging and patient monitoring systems, energy efficient lighting solutions, personal care and home appliances, as well as consumer electronics. News from Philips is located at www.philips.com/newscenter.
This release may contain certain forward-looking statements with respect to the financial condition, results of operations and business of Philips and certain of the plans and objectives of Philips with respect to these items. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.
- Contact Information
- Arent Jan Hesselink
- Philips Corporate Comunications
- Royal Philips Electronics
- Contact via E-mail
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.