Wednesday, December 14, 2005
Amsterdam, The Netherlands - Royal Philips Electronics (AEX: PHI, NYSE: PHG) today announced it has sold approximately 18 million shares of common stock in LG.Philips LCD Co., Ltd. ("LPL") (NYSE: LPL, KRX: 034220). The transaction, which closed today, will provide Philips with gross proceeds of approximately EUR 615 million, and will result in a non-taxable gain of approximately EUR 210 million in the fourth quarter of 2005.
As a result of this transaction, Philips will hold approximately 117.6 million shares in LPL, resulting in a lowering of Philips' holding in LPL from 37.9 to 32.9 percent.
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