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Phillips Is Spinning Off Its Lighting Componets Business And May Go Public With It


Phillips Inc. is planning to spin off its lighting components business into its own entity worth an estimated $2 billion euros, which could go on to be listed as a public company. This is the next step in the companies refocusing on healthcare and high end lighting systems. Under current CEO  Frans van Houten the company has sold its television business, cut more than 5,000 jobs and concentrated on growing its healthcare products.