Electronics Production | February 24, 2012
TPV acquisition of Philips TV business approved
The European Commission today approved the acquisition of Philips Electronics’ branded TV business by TPV Technology Ltd.
The commission said the transaction would not raise competition concerns because the company’s activities had limited overlap. The proposed deal was announced in November last year. Under the deal, Philips Television innovation and manufacturing sites, commercial organizations, headquarters and employee base of 3,500 would be transferred into the joint venture.