Philips receives EUR 500 million from redemption of LG Electronics shares

Jun 29, 2001

Amsterdam, the Netherlands, June 29, 2001 - Royal Philips Electronics

of the Netherlands (AEX: PHI, NYSE: PHG) announced today that upon the

request of LG Electronics, Philips has offered its 32 million

convertible redeemable preferred shares of LG Electronics for

redemption. Philips acquired these shares in December 2000.

The redemption price equals the original purchase price and amounts to

544 billion Korean Won (approximately EUR 500 million).

Philips Corporate Communications, Ben Geerts, tel. +31 (0)20-59 77

215

Oct 10, 2001 -	Philips makes push into contract manufacturing
Sep 20, 2001 -	Philips warns on Q3 semiconductor sales
Aug 30, 2001 -	Philips and Linear Technology settle patent dispute
Aug 17, 2001 -	Philips confirms in talks to sell factories
Aug 16, 2001 -	Philips to outsource VCR production
Jul 25, 2001 -	Philips places EUR 2.0 billion Eurobond
Jul 23, 2001 -	Philips to launch Eurobond benchmark issue
Jul 17, 2001 -	Philips reports net loss of EUR 770 million in the second quarter of 2001
Jul 17, 2001 -	Philips sees chip fab utilisation falling in Q3
Jul 12, 2001 -	Royal Philips Electronics and AOL Time Warner announce global strategic alliance

Apr 16, 2024 -	I.C.T \| Your One-Stop Service for Smart Meter SMT Factory
Apr 15, 2024 -	Three Industry Leaders Receive IPC President's Award
Apr 15, 2024 -	IFTEC's Pierre-Jean Albrieux Inducted into the IPC Raymond E. Pritchard Hall of Fame at IPC APEX EXPO 2024
Apr 15, 2024 -	IPC Honors Summit Interconnect and Robert Bosch GmbH with Corporate Recognition Awards
Apr 15, 2024 -	IPC Publishes Comprehensive Strategy to Address Electronics Industry's Global Workforce Challenge, Calls on Leaders in Government, Business and Education for Support
Apr 15, 2024 -	Data I/O Announces Major Milestone with 500th PSV System Sale Ahead of IPC APEX Expo
Apr 15, 2024 -	IPC Announces New Board Members at IPC APEX EXPO 2024
Apr 15, 2024 -	Seika Machinery Recognizes Outstanding Sales Achievements at 2024 IPC APEX EXPO
Apr 15, 2024 -	IPC Releases "J" Revisions to Two Leading Standards for Electronics Assembly
Apr 15, 2024 -	Altus Group Celebrates 30 Years of Innovation with Scienscope

Philips receives EUR 500 million from redemption of LG Electronics shares news release has been viewed 713 times