E - Exor buys 15% stake in health technology firm Royal Philips

2023-08-14 05:15:57 ET

• In a bid to boost its presence in the healthcare and technology sectors, investment firm Exor ( OTCPK:EXXRF ) has picked up a 15% minority stake in Royal Philips ( NYSE: PHG ).
• The transfer of shares will take place through on-market share purchases and an agreement with a major financial institution.
• The Dutch-based investment firm can propose one member to Philip's supervisory board and raise its stake in Philip's to a limit of 20% of outstanding ordinary share capital.
• PHG +4.89% premarket to $21.25
• Source: Press Release

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