Philips completes sale of Domestic Appliances business to global investment firm Hillhouse Investment
02 Septembre 2021 - 08:30AM
Philips completes sale of Domestic Appliances business to global
investment firm Hillhouse Investment
September 2, 2021
Amsterdam, the Netherlands – Royal Philips
(NYSE: PHG; AEX: PHIA), a global leader in health technology, today
announced that it has completed the sale of the Domestic Appliances
business to Hillhouse Investment, a global investment firm. The
results of this transaction, which Philips announced on March 25,
2021, will be reported under discontinued operations in the third
quarter of 2021. Philips received cash proceeds after tax and
transaction-related costs of approximately EUR 3 billion.
The transaction values Domestic Appliances, a global leader with
EUR 2.2 billion sales in 2020 in kitchen, coffee, garment care and
home care appliances, at an enterprise value of approximately EUR
3.7 billion. The total deal value amounts to approximately EUR 4.4
billion resulting from an additional 15-year brand license
agreement with annual payments that represent an estimated net
present value of approximately EUR 0.7 billion.
“I am pleased that in line with our plans we have completed this
transaction and concluded our major divestments,” said Frans van
Houten, CEO of Royal Philips. “I am confident that the Domestic
Appliances business will be able to expand on its market leadership
with the support of Hillhouse Investment. In the past 12 months,
Philips has further strengthened its portfolio with the launch of
new products and solutions, as well as the acquisitions of Intact
Vascular in image guided therapy, and BioTelemetry and Capsule
Technologies in connected care. We are executing on our strategy to
deliver integrated solutions that support professional healthcare
customers achieve the Quadruple Aim and consumers with their
health.”
“We are in a great position to continue bringing meaningful
innovations to the consumer’s home in areas such as kitchen,
coffee, garment care and home care appliances,” said Henk de Jong,
CEO of Domestic Appliances. “We look forward to embark on this new
partnership with Hillhouse Investment, building on our longstanding
consumer, customer and partner relationships, as well as our market
leading positions across our portfolio and the brand license
partnership with Philips.”
Following the sale of Domestic Appliances, Philips’ EUR 3.2
billion Personal Health businesses will continue to shape its
important role in the company’s integrated health continuum
approach through products and solutions that support healthy living
and prevention of diseases. Philips is a global leader in oral
healthcare, personal care and mother & child care, areas that
are essential building blocks of consumer health.
For further information, please
contact:
Ben ZwirsPhilips Global Press OfficeTel.: +31 6 15213446E-mail:
ben.zwirs@philips.com
Derya GuzelPhilips Investor RelationsTel.: +31 20 59
77055E-mail: derya.guzel@philips.com
About Royal PhilipsRoyal Philips (NYSE: PHG,
AEX: PHIA) is a leading health technology company focused on
improving people's health and well-being, and enabling better
outcomes across the health continuum – from healthy living and
prevention, to diagnosis, treatment and home care. Philips
leverages advanced technology and deep clinical and consumer
insights to deliver integrated solutions. Headquartered in the
Netherlands, the company is a leader in diagnostic imaging,
image-guided therapy, patient monitoring and health informatics, as
well as in consumer health and home care. Philips generated 2020
sales of EUR 17.3 billion and employs approximately 77,000
employees with sales and services in more than 100 countries. News
about Philips can be found at www.philips.com/newscenter.
Forward-looking statements This release
contains certain forward-looking statements with respect to the
financial condition, results of operations and business of Philips
and certain of the plans and objectives of Philips with respect to
these items. Examples of forward-looking statements include
statements made about the strategy, estimates of sales growth,
future EBITA, future developments in Philips’ organic business and
the completion of acquisitions and divestments. By their nature,
these statements involve risk and uncertainty because they relate
to future events and circumstances and there are many factors that
could cause actual results and developments to differ materially
from those expressed or implied by these statements.
- Philips SpeedPro Max
- Philips Airfryer XXL
Koninklijke Philips NV (EU:PHIA)
Graphique Historique de l'Action
De Fév 2024 à Mar 2024
Koninklijke Philips NV (EU:PHIA)
Graphique Historique de l'Action
De Mar 2023 à Mar 2024