27
Jul

Osram sells lamps division to the Chinese consortium MLS

Osram is selling its crisis-ridden energy-saving lamps and neon tubes division, to a consortium from China for............

over EUR 400 m. Osram plans to concentrate on LED chips in future.

The supervisory board of Osram Licht has approved the sale of the lamps business.

The purchaser of the business goes by the name of Ledvance and is a Chinese consortium comprising the lighting company MLS and the two financial investors IDG Capital Partners (IDG) and Yiwu State-Owned Assets Operation Center (Yiwu).

In addition to the purchase price of EUR 400 m, Osram will receive from MSL licence fees for the continued use of the name.

Growing demand from automobile manufacturers and industry grew turnover by almost 7% in the 3rd quarter to EUR 1.44 bn.

The sale is to be completed in the coming year.