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Philips Deutschland GmbH Lübeckertordamm 5 20099 Hamburg, Germany http://www.philips.de
Contact Mr Joon Knapen +31 20 597 7477
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Philips Deutschland GmbH

Philips sells its remaining stake in LG Display for EUR 630 million

(PresseBox) (Amsterdam, )
Royal Philips Electronics (AEX: PHI, NYSE: PHG) today announced it has sold its remaining stake in LG Display Co., Ltd. (NYSE: LPL, KRX: 034220) 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 the first quarter of 2009, which will be recognized in financial income and expenses.

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The publisher indicated in each case (see company info by clicking on image/title or company info in the right-hand column) is solely responsible for the stories above, the event or job offer shown and for the image and audio material displayed. As a rule, the publisher is also the author of the texts and the attached image, audio and information material. The use of information published here is generally free of charge for personal information and editorial processing. Please clarify any copyright issues with the stated publisher before further use. In case of publication, please send a specimen copy to service@pressebox.de.