Royal Philips Electronics N.V. Said to Name Banks for Possible Lighting Unit IPO

Published: Apr 05, 2016

Royal Philips NV has named six banks and filed draft documents to the Dutch market regulator for a possible initial public offering of its lighting division even as a process to sell the business through an auction continues, according to people familiar with the matter.

Philips has named Citigroup Inc., ING Groep NV, Morgan Stanley & Co LLC and Societe Generale SA as joint bookrunners for the possible listing while ABN Amro Group NV and Cooperatieve Rabobank have been named joint co-bookrunners, said the people, who asked not to be named because the process isn’t public. The documents were filed to market regulator Autoriteit Financieele Markten, or AFM, for an opinion before a formal application is made, they said.

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