Havells India sells Sylvania lamps to Feilo China
Havells India has sold 80% of Sylvania Malta and Havells Exim Hong Kong to the Shanghai-based company Feilo Acoustics Ltd. for ........
Rs. 1.340 Cr. (EUR 8.8 m). The sale is expected to be completed by February 2016. The remaining 20% is to be concluded in the next 5 years or by the end of 2016.
Sylvania’s annual turnover amounts to approx. EUR 440 m.
As we had already reported in July 2015 Feilo has also been interested in parts of the Osram lighting group.
Havells in India is a rapidly growing electrical firm with an annual turnover totalling approx. EUR 1.29 bn. Its products include home appliances (e.g. electric water heaters and fans), switches (Crabtree), cables and wires, motors and lighting materials (since 2007 Sylvania).