Reginal Thomas
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Philips Hires Morgan Stanley To Sell It Stake In Lighting Components Business

Philips has begun proceeding with the sale of its stake in a lighting components business. Morgan Stanley has been commission to oversee the sale. Last month Philips announced it would create the division by merging its LED lights business; Lumileds and its automotive lighting business, they have combined sales of $1.8 billion dollars. KKR, Advent, EQT, CVC, Cinven, Clayton Dubilier & Rice are some of the investors expected to make a bid for the asset.