Philips separates from Lumileds
As announced in mid-December, the parent company Philips sold 80.1% of its Lumileds lighting division to its affiliate Apollo for $ 1.5 billion (€ 1.4 billion).
The remaining 19.9% Philips wants to keep at least 3 years. A definitive deal is expected in the first half of 2017. As we said on January 25, 2016, Philips has acknowledged CFIUS's concerns about US foreign investment controls Sale of the LED division to the Chinese consortium Go Scale Capital canceled. Originally, Go Scale should own the 80.1% of Philips.
The purchase price would have been $ 3.3 billion at the time (€ 3.1 billion). So for now: a $ 1 7 billion ($ 1.7 billion) financial loss to Philips.
With this transaction, we want to start talking about the light business you want to focus on the health and medical business in the future.