Philips Reaches Agreement To Buy Italian Saeco
May 25 2009 - 1:54AM
Dow Jones News
Royal Philips Electronics NV (PHG) Monday announced that it has
reached a binding agreement to acquire Saeco International Group
S.p.A., the Italy-based leading espresso machine maker which is
controlled by PAI partners.
Successful completion of this transaction is, amongst others,
subject to Philips reaching a final agreement with Saeco's banks
with which the company has outstanding credit obligations.
Philips will provide additional detailed information about this
proposed acquisition if and when conditions for a successful
agreement have been met.
Company Web Site: http://www.philips.com