Exor completed the acquisition of a 15% stake in Philips for $2.84bn.

Exor, the Netherlands-based diversified holding company, completed the acquisition of a 15% stake in Philips, an electronics company that focuses on healthcare and lighting, for $2.84bn. “Exor’s investment in Philips, their long-term outlook and increased focus on healthcare and technology, fit well with our strategy and substantial value creation potential. With our market leadership positions and people-centric innovation capabilities, Philips is well positioned to deliver on our purpose to improve the health and well-being of people, creating value for all stakeholders," Roy Jakobs, Philips CEO.