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[13 Mar 2008 | No Comment | 510 supporters]

Amsterdam, The Netherlands – Royal Philips Electronics (AEX: PHI, NYSE: PHG) today announced it has sold 24 million shares of common stock in LG Display Co., Ltd. (NYSE: LPL, KRX: 034220) to investors in a capital markets transaction. This transaction represents 6.7% of LG Display’s issued share capital and reduces Philips’ holding to 13.2%.
The transaction, which closed today, will provide Philips with net proceeds of approximately EUR 680 million, and is expected to result in a non-taxable gain of approximately EUR 95 million in the first quarter of 2008, which …