Royal Philips announced an agreement with a consortium led by GO Scale Capital to buy an 80.1% interest in Philips’ combined Lumileds LED components and Automotive Lighting businesses, with Philips retaining the remaining 19.9% interest. The transaction values the business at an enterprise value of approximately $3.3 billion. Philips expects to receive cash proceeds, before tax and transaction related costs, of approximately $2.8 billion and a deferred contingent payment of up to $100 m
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