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Philips Begins Talks With Potential Buyers of Domestic Appliances Unit

Provided by Dow Jones By Adria Calatayud Koninklijke Philips NV said over the weekend that it has started talking to parties interested in buying its domestic-appliances unit, although it hasn t ruled out an initial public offering for the business. The Dutch health-technology group launched in January a review of options for its domestic-appliances unit as part of its yearslong shift toward medical technology. The separation process is scheduled to be completed in the third quarter of 2021. The company which last Friday said it would acquire U.S. remote medical-technology company BioTelemetry Inc. said it has received interest for its appliances unit from strategic players in the industry and private-equity investors in Europe and China.

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