Osram Approves Sale Of Its Lamps Business To Chinese Consortium

Lamps Business – Ledvance Transfers To Chinese Owners

– Chinese consortium consisting of the strategic investor IDG, the Chinese lighting company MLS and the financial investor Yiwu acquire Osram’s business unit Lamps for more than €400 million
– OSRAM Licht AG CEO Olaf Berlien: “Milestone in Osram’s alignment towards a high-tech company.”
– MLS Chairman Sun Qinghuan: “We are looking forward to working together with Ledvance, whose employees and management command extensive expertise.”
– Michael Knuth, IG Metall trade union / deputy Supervisory Board Chairman: “The combination is good news for Ledvance’s employees.”
– Transaction closing expected in the course of fiscal 2017 and is subject to certain closing conditions and regulatory approvals by the relevant authorities
– Strategic supply agreement strengthens new Osram LED plant in Malaysia

In its meeting today, the Supervisory Board of OSRAM Licht AG (Osram) approved the sale of the general lighting lamps business. The buyer of the business known as Ledvance is a Chinese consortium consisting of the strategic investor IDG Capital Partners (IDG), the Chinese lighting company MLS Co., Ltd. (MLS) and the financial investor Yiwu State-Owned Assets Operation Center (Yiwu). The purchase price amounts to more than €400 million. Osram will additionally receive payments for license agreements of trademark rights. The consortium and Ledvance are a very good fit due to their complementary structure both geographically as well as respective product portfolios and they have solid financial resources. Through the transaction, both would respectively benefit from a significantly larger sales and distribution network, as well as sourcing synergies, which would lay the foundation for co-operative future growth. The transaction is subject to certain closing conditions, regulatory approval by the relevant authorities. The transaction is expected to close in the course of fiscal 2017.

26 Jul