Cree sells its LED lighting business to Ideal Industries
Cree from Durham / NC sells its lighting division (Cree Lighting) to Ideal Industries in Sycamore / IL. The selling price is approx.. 310 m USD (274 m EUR) before tax. Cree expects a down payment of 225 m USD (200 m EUR) and another bonus payment upon completion of the transaction.
The completion of the transaction is expected for the 4th quarter, after approval by the various antitrust authorities.