sale

News aus der Elektroindustrie

20
May

As we learned today, Rexel has sold its three Chinese companies,

As we learned today, Rexel has sold its three Chinese companies, Luckywell International Investment Ltd. and Beijing Luckywell Electrical Co., Ltd. on 31.1 2019 and Shanghai Maxqueen Industry Development Co. ltd. on 30.4.2019. To whom was not communicated.

 

Read more

Cree from Durham / NC sells its lighting division (Cree Lighting) to Ideal Industries in Sycamore / IL. The selling price is approx.. 310 m USD (274 m EUR) before tax. Cree expects a down payment of 225 m USD (200 m EUR) and another bonus payment upon completion of the transaction.
 

Cree from Durham / NC sells its lighting division (Cree Lighting) to Ideal Industries in Sycamore / IL. The selling price is approx.. 310 m USD (274 m EUR) before tax. Cree expects a down payment of 225 m USD (200 m EUR) and another bonus payment upon completion of the transaction.

The completion of the transaction is expected for the 4th quarter, after approval by the various antitrust authorities.

Read more

ABB is likely to sell its power grid business to the Japanese Hitachi group later this month.

ABB is likely to sell its power grid business to the Japanese Hitachi group later this month.

It has not yet been finally clarified how much Hitachi will take over and the price is still unclear. These issues are still under negotiation, but then, by the end of the year, Hitachi will be the second largest manufacturer in this segment behind GE.

Read more

In early November, General Electric entered into a preliminary agreement to sell its Current luminaire...........

In early November, General Electric entered into a preliminary agreement to sell its Current luminaire.

business (LED lighting for commercial offices and industrial premises) to American Industrial Partners (AIP), a private equity company from New York.

Current would like to continue to use the GE brand; this should be agreed with a license agreement. The North American consumer lighting business (such as halogen lamps, fluorescent tubes, bulbs, etc.) is not part of the planned sale to AIP. GE wants to sell this section separately.

The transaction is expected to close early next year, subject to customary regulatory approvals.

Read more

According to press reports, ABB appears to have recently entered into negotiations with Hitachi and Mitsubishi Electric......

According to press reports, ABB appears to have recently entered into negotiations with Hitachi and Mitsubishi Electric.

to eventually sell its power network business or part of it.

If it is possible, they would like to reserve a part for themselves and then sell it separately at a later time.

With an agreement it could possibly happen very quickly, but perhaps ABB would like to negotiate the one or the other additional element; then it would not happen until the beginning of the new year.

The division had a turnover of USD 10.4 bn (EUR 9.2 bn) in 2017 and that, according to expert opinion, should be at least the amount that one would like to redeem.

Read more

As announced mid-December, the parent company Philips has sold 80.1% of its light division Lumileds to the investment company Apollo for 1.5 billion USD (1.4 billion EUR).

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.

Read more

Textron, which focuses on aerospace, has announced that it has sold its Tools & Tests  division to Emerson for approx. USD  810 m (EUR  655 m).

Textron, which focuses on aerospace, has announced that it has sold its Tools & Tests  division to Emerson for approx. USD  810 m (EUR  655 m).

Included in the sale are all brands belonging to the Tools & Tests section, i.e. Greenlee, Greenlee Communications, Greenlee Utility, HD Electric, Klauke, Sherman + Reilly and Endura.

The transaction has yet to be approved by the various competition authorities, with a conclusion expected in the third quarter of 2018.

The proceeds will be used to fund additional share repurchases.

Read more

Now it appears that there is movement in the contemplated sale of GE Lighting's North American business and its LED lighting section.

Now it appears that there is movement in the contemplated sale of GE Lighting's North American business and its LED lighting section.

According to newspaper reports at least two Chinese companies, namely MLS and Foshan Electrical and Lighting, have had talks with lenders to finance the acquisition. There is talk of USD 1 bn (EUR 812 m).

As we already reported on 20th February, this would then be part 2 of the sale of General Electric's lighting business, after part of it went to the former chairman of GE Hungary.

At GE there is a thorough restructuring pending, involving the sale of parts of the company for about USD 20 bn = EUR 16 bn, in order to concentrate on energy, aviation and health in the future.

The lighting business is no longer lucrative for GE, with only USD 93 m (EUR 75 m) profit being made last year from a turnover of USD 2 bn (EUR 1.6 bn).
 

Read more

The former chairman of General Electric's Hungarian business unit, Jorge Bauer, is said to be taking over............

The former chairman of General Electric's Hungarian business unit, Jorge Bauer, is said to be taking over............

the lighting business of the GE Group in Europe, Africa, the Middle East and Turkey; plus the worldwide automotive lighting.

The deal excludes GE Lighting's North America business and LED lighting: these will  be sold later either together or separately. At GE, one wants to leave the lighting sector and focus on more lucrative businesses such as health and aviation.

The sale should be completed by the middle of the year and also includes the five manufacturing sites in Hungary, where more than 4,000 people are employed.

Read more

SolarA / S, the Danish electrical wholesaler, sells its activities in Belgium and Austria to the Sonepar Group.

SolarA / S, the Danish electrical wholesaler, sells its activities in Belgium and Austria to the Sonepar Group.

These are the GFI GmbH in Vienna with 5 branches as well as the Claessen-ELGB in Hasselt with 6 branches.

The companies have made losses in recent years, in 2017 they totaled DKK 35 million (EUR 4.7 million) and there was no possibility that this would change in the near future.

In Sonepar they see the strong partner who is very well positioned regionally to continue to serve the customers.

The transaction has yet to be approved by the relevant competition authorities, a final settlement is expected at the end of the second quarter of 2018.

Read more