Philips sells NXP stake to its pension fund

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NETHERLANDS/UK - Dutch firm Royal Philips Electronics is selling its entire stake in NXP Semiconductors to its UK pension fund.

The company will make a cash contribution of €350m ($446m) to the pension fund, which will use the funds to buy the 17% stake in NXP still owned by Philips. "We were looking for ways to sell the...

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