Osram Licht AG

News aus der Elektroindustrie

29
Aug

Osram has canceled the existing standstill agreement with AMS and signed a cooperation agreement. .....

Osram has canceled the existing standstill agreement with AMS and signed a cooperation agreement. This allows the Austrian semiconductor group to submit a voluntary public takeover bid. The offer is expected to be at 38.50 EUR in cash per share, i.e. 10% more than from the financial investors Bain Capital and the Carlyle group. However, the condition for the sale is that at least 70% of Osram shareholders sell their securities.

Olaf Berlien, CEO of OSRAM Licht AG, is pleased that his shareholders can now choose between two offers. It is important for him in addition to a secure financing, the preservation of the interests of his employees. The cooperation agreement with AMS therefore stipulates that Munich will become Co-headquarter with global central functions and the name Osram will remain.

The big challenge lies in the fact that an industrial group with almost 4 bn EUR turnover should be taken over by a much smaller company.

The digital business and the consumer business with LED lamps, however, will be sold.

The deal must still be approved by the relevant competition authorities.

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The supervisory board of OSRAM Licht AG voted in favor of the outsourcing of the division in June 2015, and now the name of the new firm has been fixed.

The supervisory board of OSRAM Licht AG voted in favor of the outsourcing of the division in June 2015, and now the name of the new firm has been fixed.

For the newly-formed company a combination of the terms LED and ADVANCE has been decided on, so that the new firm is now called LEDVANCE. “The name reflects both the LED trend in the lighting market and the chances resulting from it,” stated Olaf Berlien, the chairman of Osram Licht AG.

LEDVANCE will be led by Jes Munk Hansen (47), who has already been at the helm of the lamps business for one year. Oliver Neubrand (45) will be responsible for finance, Erol Kirilmaz (43) for sales and marketing, Peter Mannhart (56) for operations, and Ms. Bettina Kahr-Geleng (45) for human resources.

The schedule for the formal carve-out of LEDVANCE remains unchanged: The organizational separation of the lamps business is to be completed as of 1. April 2016, while the legal separation is planned for 1. July 2016.

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Olaf Berlien, the CEO of Osram Licht AG and Grant Wright, the CEO and CFO of Osram Americas, together with a large number of guests............

Olaf Berlien, the CEO of Osram Licht AG and Grant Wright, the CEO and CFO of Osram Americas, together with a large number of guests............

of honour have formally opened Osram America’s new headquarters in Wilmington/ Massachusetts.

The facility has an area of 124,000-square-foot (11,520 m²), approx. 500 people are employed there and it is to serve as headquarters for North and South America.

The move was from Danvers to Wilmington, and was made necessary in order to be able to preserve the company’s leading position in a competitive and rapidly changing market.

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