Osram sells lamps unit to Chinese buyers

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Osram has announced the EUR 400 million sale of its lamps and lighting business. Osram said it had agreed to sell Ledvance, the general lighting lamps business that recently took the name LEDvance, to a Chinese consortium for more than 400 million euros.

The buying consortium, comprising strategic investor IDG Capital Partners, Chinese lighting company MLS Co Ltd and financial investor Yiwu State-Owned Assets Operation Center, will finance the purchase price on an all equity-financed basis, Osram said.

Based on an agreement with Osram, Ledvance will continue to use the Osram and Sylvania brand names at the product level. Intellectual property rights are clearly allocated so that the consortium and Ledvance can continue to drive global innovations and product development.

“The transaction is good news for Ledvance’s employees,” said Michael Knuth, Vice Chairman of the Supervisory Board of Osram Licht AG and Speaker of the IG Metall trade union in the German state of Bavaria. “The consortium will uphold the existing agreements with the works council and IG Metall. Ledvance’s global headquarters will remain in Garching, Germany”.   Osram expects to remain a strategic supplier of LED chips to Ledvance, stating that in connection with the transaction, Osram and MLS entered into a strategic supply agreement by which MLS intends to purchase an annual order of LED chips.

Those chips will come from a new plant being built in Kulim, Malaysia. The transaction shrinks Osram GmbH considerably, helping the company focus on semiconductors again

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