Deals
Philips Picks Goldman, JPMorgan for Appliance Unit Sale
- Home appliance business could fetch more than $3 billion
- Chinese competitors and buyout firms are expected to bid
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Royal Philips NV has picked Goldman Sachs Group Inc. and JPMorgan Chase & Co. for a disposal of its home appliance business, which could fetch more than $3 billion, according to people familiar with the matter.
The sale process is set to kick off around mid-2020, said the people, who asked not to be identified as the discussions are private. The business is likely to attract interest from Asian buyers, including Chinese appliance makers, and private equity firms, they said. European competitors are also looking, one of them said.