Lights Out: Philips To Launch Ipo For Lighting Division

THE HAGUE, Netherlands (AP) — Royal Philips NV says it is spinning off its iconic lighting division in an initial public offering so it can focus on its future as a health technology provider. Philips CEO Frans van Houten calls the decision "historic" for the Dutch company that made its name selling light bulbs before branching into other consumer electronics and the health care products.

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