Goldman Sachs used derivatives to help Exor build $2.8 billion Philips stake, filings show

Investment company Exor was able to build a 15% stake in Dutch healthcare group Philips without triggering the usual disclosures thanks to derivatives deals through Goldman Sachs, regulatory filings show. The two companies said earlier this week that Exor, the investment arm of Italy's Agnelli family, had become the biggest shareholder in Philips by buying 15% of the company for about $2.8 billion. Exor's investment was seen as a vote of confidence in Philips and boosted the Dutch company's shares.