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German govt approves Osram’s lamp unit sale to Chinese buyers

German govt approves Osram’s lamp unit sale to Chinese buyers

By BizLED Bureau

Feb 7, 2017: The German government has finally approved Osram to sell its lamps unit to an association of Chinese bidders for US$ 425 million (400 million euros). However, the sale is still under the assessment of the US Committee on Foreign Investment in the United States (CFIUS) and a Chinese regulator.

After Osram sells off its traditional lamps and lighting unit, it will focus on more competitive businesses like LED chips and automotive lighting.

In 2015, CFIUS had blocked Philips from selling its lighting division Lumileds to Asian buyers due to the fear that China will be able to get access to the US high-tech sector. Finally, Philips had to sell Lumileds to Apollo Global Management for US$ 1.5 billion.

Also Read: Germany’s major labor union to prevent Chinese takeover of Osram

In July 2016, Osram was in talks with a Chinese consortium that included IDG Capital Partners, MLS, and Assets Operation Center, to sell its biggest lighting unit LEDvance.

As most of the lighting manufacturers are today focused on LED and its different applications, Chinese buyers are trying to expand their businesses in the global markets.

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