Philips, Exor Agree to Raise Stakeholding Cap to 22%

MT Newswires Live

08/11

Koninklijke Philips (PHG) and Exor said Tuesday they agreed to update their long-term relationship agreement, allowing Exor to increase its stake in Philips to up to 22% from the previous 20% cap.

Exor could increase its stake further with approval from Philips' Supervisory Board, the companies said, adding that Governance arrangements remain unchanged, including Exor's right to nominate one member of the board.

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