A group of five Turkish companies together want to make an offer for the Philips division that makes household appliances. The directors of TOBB, DEIK, TIM, MUSIAD and TUSIAD have made agreements about this, according to the Turkish newspaper Sabah. The Turkish government is said to have supported the plan.

Earlier this year, Philips announced that it would display the Domestic Appliances division. The branch, which makes airfryers and coffee machines, among other things, no longer fits in with the company’s strategy. Philips is increasingly focusing on healthcare technology and previously also rejected the chip branch and the lighting division, as well as the components that make televisions.

It is not yet entirely clear when the sales process will start. Previously there were reports that this would happen in the summer, but it is not exactly clear whether the corona crisis is delaying. According to insiders, the household branch of Philips could yield between 2.3 billion and 3.7 billion euros.