AMSTERDAM (dpa-AFX) - Royal Philips (PHGFF.PK, PHG) a health technology major, announced on Monday that it agreed for Exor N.V. (EXO) a diversified holding company, to buy 15 percent shareholding in Philips.
This is part of Exor's interest in increasing its presence in the healthcare and technology sectors. The current investment in Philips can go up to 20 percent in time, the companies said in a statement.
The investment by Exor will not lead to any share dilution.
Under the agreement terms, Exor has the right to propose one member to the Supervisory Board.
On Friday, shares of Philips closed at 18.50 euro down 1.73% and shares of Exor closed at 81.42 euros down 0.78% on the Amsterdam Stock Exchange.
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