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2014-03-17

Philips Aims to Become Leading Lighting Player in Saudi Arabia Through Joint Venture

Royal Philips, a global leader in lighting, announced that it has entered into agreements to acquire 51 percent of General Lighting Company (“GLC”), a major lighting company in the Kingdom of Saudi Arabia (“KSA”), from a consortium of shareholders that include Alliance Holding Ltd. (“Alliance”), the Hejailan Group, and The Carlyle Group.
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