Philips sells remaining NXP stake to its UK pension fund
Philips has sold its remaining equity stake in chip maker NXP to its UK pension fund, the electronics giant announced on Tuesday.
The sale will generate €140m in Q3 income, Philips said.
Philips said earlier it did not consider the 20% stake in NXP to be part of its core business. Philips sold an 80.1% stake in the company to a consortium of private investors led by KKR in 2006 for €4.3bn.
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