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Exor takes 15% stake in Philips for around $2.8 bln

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Healthcare technology company Philips said on Monday that Dutch investment firm Exor NV has taken a 15% stake in the company in a deal worth around 2.6 billion euros ($2.84 billion).

The companies said in a statement that Exor, which intends to be a long-term shareholder, had purchased its stake on the open market, though the firms have a relationship agreement in place.

Exor, with a portfolio worth 33 billion euros, has Italian roots and is the largest shareholder in Ferrari, Stellantis and CNH Industrial, and has recently made healthcare industry investments in Institut Merieux and Lifenet as well as Via Transportation Inc.

 

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