Reported about 9 hours ago
Exor NV, the investment firm of Italy's Agnelli family, has raised its shareholding in Philips, a health technology company, to 18.7%, as revealed in a filing with the U.S. SEC. Previously, Exor owned 17.51% of the Dutch company, which specializes in medical equipment and consumer health products. This move comes after Exor initially acquired a 15.1% stake last August amid Philips' challenges with a significant product recall. In the past year, Philips shares surged nearly 50% but have recently faced a decline due to weak sales in China.
Source: YAHOO