Sale of Philips lighting division about to be concluded?
KKR & Co and CVC Capital Partners could already soon buy Philips’s lighting segment according to the latest press releases, which state that the finance companies have bid to buy 80% of the division.
The deal is said to have a volume of EUR 2.5 bn and might be officially confirmed in the next few days. Bain Capital from Boston/USA, who had also been interested in a takeover, are no longer in the running, according to the release.
Philips would like to hive off or sell the division, and a decision is to be made about this by the shareholders in the next shareholders’ meeting in May. The LED components and automotive lighting divisions are said not to be part of the current deal and are to be sold separately.
This means that Philips are doing a similar thing to Siemens, who also floated its lighting division Osram on the stock market as a separate company.