Potential buyers to bid farewell to PHILPS lighting business IPO increased likelihood

According to Bloomberg News Agency reported 4, according to informed sources, the Holland Royal PHILPS Lighting Department of IPO specified six banks, and to the Holland market regulators submitted a draft document, at the same time, the auction sale of the lighting business also continued.

The source also said that PHILPS has appointed Citigroup (CitigroupInc.), Holland International Group (INGGroepNV), Morgan Stanley joint limited liability company (MorganStanley&CoLLC) and Societe Generale (SocieteGeneraleSA) as joint bookrunners, Bank of Holland (ABNAmroGroupNV) and Holland Cooperative Bank (CooperatieveRabobank) as joint bookrunners together. They said they had been submitted to the Holland Financial Markets Authority (AutoriteitFinancieeleMarkten, or AFM) prior to making a formal application to seek advice.

This move is the chief executive of PHILPS million was related to the sale of Mr. Lighting Department and a ring company focus on health care in the plan. As for the manner in which the sale of lighting business, PHILPS has remained open attitude.

Goldman Sachs Group (GoldmanSachsGroupInc) and JP Morgan (JPMorganChase&Co.) is the "dual track" mode, trying to seek the possibility of direct sale to private equity investors and buyers however, listed banks designated this move shows that it is possible. Informed sources have said that the price may be as high as 5 billion euros.

Representatives of PHILPS, Bank of Holland, Holland International Group, Citigroup and Morgan Stanley declined to comment.

Informed sources recently revealed that due to the final bid postponed until April 18th, the sale process was delayed, in addition, a potential buyer has withdrawn from the bid. A person familiar with the matter said, British investment company Melrose industrial group (MelroseIndustriesPLC) has withdrawn from the bidding, then the possibility of PHILPS lighting business IPO increased.

The source said that Melrose is worried about the business prospects of the sector and lack of data support. They also said that the sale process continues, PHILPS and its advisers are also preparing for the possible listing, but also to test the intentions of investors.

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