09 March 2007 Philips could make $8bn from TSMC stake Philips Electronics and TSMC have agreed to a phased plan which will allow Philips to make an ‘orderly exit’ from its TSMC shareholding. “We are pleased to have reached agreement with TSMC on this plan to facilitate our exit from our current shareholding in TSMC in an orderly, responsible manner,” said Philips’ chief financial officer Pierre-Jean Sivignon (pictured). Philips Electronics and TSMC have agreed to a phased plan which will allow Philips to make an ‘orderly exit’ from its TSMC shareholding. “We are pleased to have reached agreement with TSMC on this plan to facilitate our exit from our current shareholding in TSMC in an orderly, responsible manner,” said Philips’ chief financial officer Pierre-Jean Sivignon (pictured). “Selling our stake in TSMC is a logical consequence of our decision to exit the semiconductor business, to which end we made a first, significant step in 2006 when we sold a majority stake in our semiconductor division.” Philips currently holds a 16.2% stake in TSMC. At current prices, the disposal would raise more than $8billion. However, the plan calls for the shares to be sold in four phases. Author Graham Pitcher Comment on this article Companies Royal Philips Electronics This material is protected by MA Business copyright See Terms and Conditions. One-off usage is permitted but bulk copying is not. For multiple copies contact the sales team. What you think about this article: Add your comments Name Email Comments Your comments/feedback may be edited prior to publishing. Not all entries will be published. Please view our Terms and Conditions before leaving a comment.
09 March 2007 Philips could make $8bn from TSMC stake Philips Electronics and TSMC have agreed to a phased plan which will allow Philips to make an ‘orderly exit’ from its TSMC shareholding. “We are pleased to have reached agreement with TSMC on this plan to facilitate our exit from our current shareholding in TSMC in an orderly, responsible manner,” said Philips’ chief financial officer Pierre-Jean Sivignon (pictured). Philips Electronics and TSMC have agreed to a phased plan which will allow Philips to make an ‘orderly exit’ from its TSMC shareholding. “We are pleased to have reached agreement with TSMC on this plan to facilitate our exit from our current shareholding in TSMC in an orderly, responsible manner,” said Philips’ chief financial officer Pierre-Jean Sivignon (pictured). “Selling our stake in TSMC is a logical consequence of our decision to exit the semiconductor business, to which end we made a first, significant step in 2006 when we sold a majority stake in our semiconductor division.” Philips currently holds a 16.2% stake in TSMC. At current prices, the disposal would raise more than $8billion. However, the plan calls for the shares to be sold in four phases. Author Graham Pitcher Comment on this article Companies Royal Philips Electronics This material is protected by MA Business copyright See Terms and Conditions. One-off usage is permitted but bulk copying is not. For multiple copies contact the sales team. What you think about this article: Add your comments Name Email Comments Your comments/feedback may be edited prior to publishing. Not all entries will be published. Please view our Terms and Conditions before leaving a comment.
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