“Philips no longer holds any stake in LG Display.”

Co-founder Royal Philips has completely sold of its remaining stake (13.2%) in LG Display (LGD), the world’s second largest LCD manufacturer as of March 13, 2009. Philips booked a one-time net gain of €70 million from the sale of 47.2 million LGD shares totalling KRW1.31 trillion or US$884 million. “Philips no longer holds any stake in LG Display,” according to LGD. Philips has been pulling out of electronics manufacturing and focusing on healthcare devices and lighting technologies. LG Electronics is now the single largest shareholder of LGD with a stake of 37.9%.

Source: Trading Markets, Bloomberg

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