Philips Lighting Electronics

Philips Lighting intends to acquire AXA Lighting Ballast businesses in Mexico and Brazil

Mar 27, 2001 | Philips Lighting B.V., a subsidiary of Royal Philips Electronics (AEX: PHI, NYSE: PHG) announced today that it has signed a Letter of Intent with AXA, the Mexican multi-business conglomerate, with respect to the acquisition of the fluorescent lighting ballast operation of Lumisistemas (Mexico) and all lighting ballast activities of Helfont (Brazil). The transaction is subject to due diligence and customary regulatory approvals.

Philips Announces Sale of its Battery Manufacturing Activities

Feb 20, 2001 | Philips Lighting BV has entered into a final agreement to sell its 50% ownership of the battery manufacturing joint ventures PMBC (Philips Matsushita Battery Corporation) in Belgium and PMBP (Philips Matsushita Batteries Poland) in Poland to Matsushita Battery Industry, its joint venture partner, for EUR 42 million. The agreement is subject to regulatory approvals.