Royal PHILPS electronics full control Lumileds, 8 million purchase last 3.5%

Following last year's acquisition of Agilent (Agilent Technologies) originally held 47% shares of Lumileds company, Royal PHILPS Electronics (Royal Philips Electronics) to pay 8 million euros and the employee stock ownership plan (ESPM) bound 3.5% Lumileds shares. The plan is due to the new incentives to replace the project, and the equity release. PHILPS said the purchase price of 8 million euros will be used as a one-time expenditure in the fourth quarter.

Note: Lumileds is the PHILPS Agilent in November 1999 set up a joint venture with bright LED company, last year PHILPS formerly Agilent 47% shares of Lumileds holdings total reached 96.5%.