On July 26th, the official website of OSRAM published an official press release of "Osram for Finding the Best Buyer for the Lighting Business".
The press release mentioned that the Chinese consortium, consisting of strategic investor IDG, China Lighting Corporation MLS and financial investors, acquired Osram's general lighting business with a purchase price of more than 400 million euros. In accordance with the terms of the negotiations between the two parties, in addition to the sale of assets of more than 400 million euros, OSRAM will additionally obtain trademark licensing fees.
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Osram believes that the combination of a consortium of IDG and Mulinsen and Ledvance can complement each other in terms of expanding regional market share and product mix in the future, and of course the financial support of the consortium.
Through the transaction, both parties will benefit from the establishment of a broader product distribution network, as well as procurement synergies, which will lay the foundation for future performance growth. Considering that the transaction is subject to certain closing conditions, it will also be approved by the relevant departmental regulatory authorities. OSRAM expects the transaction to be in the course of FY2017.
Osram said that we have found a new owner for the general lighting business. Among the Chinese consortiums, IDG will be a long-term strategic investor with extensive experience in China and investment experience in operations and industrial technology. Mulinsen is a leading LED company from the Chinese market.
Benefiting from Ledvance's decades of LED technology accumulation and market resources, Mulinsen will be able to expand its LED business in the global market. At the same time, Ledvance will also be able to significantly expand its influence in the Chinese market and achieve greater growth.
At the same time, in accordance with the agreement reached, Ledvance will continue to use the two brands of OSRAM and Sylvania at the product level. We have reached a clear allocation of intellectual property rights, which means that Ledvance and the Chinese consortium formed by Mulinsen can continue to promote product innovation and global market development.
“The transaction continues to guarantee that OSRAM is a high-tech representative of the global lighting industry,†said Olaf Berlien, CEO of OSRAM Licht AG. “We found the best new owner of Ledvance. In this Chinese consortium, Mulinsen is A fast-growing LED lighting company with unique expertise and a strong position in the Chinese market."
Through this transaction, Ledvance will explore the global market together with Mulinsen. Ledvance and Mulinsen's products will target different target users and different target markets, including emerging markets and developed markets.
“We look forward to working together. The wealth of experience of Ledvance’s management team and employees is a key factor in the future success of Ledvance and Mulinsen’s future cooperation,†said Sun Qinghuan, Chairman of Mulinsen.
“With strong financial support, we are committed to sustainable development and further strengthen the complementary market between the two parties. The goal of positioning is to become the global LED lighting market leader.†IDG partner Antony Yu added.
“The partnership will support Ledvance's development strategy and will benefit Ledvance and our customers. At the same time, we will gain a more efficient supply chain cost advantage while continuing to adhere to our quality standards. In addition, this will also strengthen We have sales and competitive advantages in Asia, especially in China,†said Jeds Munk Hansen, CEO of Ledvance.
According to the plan, the management team of Jes Munk Hansen and Ledvance will remain in office after the transaction is completed.
According to the negotiations between the two parties, the focus of this transaction is to further promote business growth. There is only a limited overlap in the organizational structure of some personnel between the two parties, so there will be no additional layoffs.
In accordance with the agreements and principles reached between the two parties, the terms of the transaction will guarantee that Osram and its headquarters staff will remain in Germany in the future. As a result, the labor relations of existing employees will be retained until the end of 2018 and their rights will be protected.
“This transaction is good news for Ledvance employees,†said Michael Knuth, spokesperson for OSRAM Licht AG. “Ledvance's global headquarters will remain in Germany. During the negotiations, the Chinese consortium showed great respect for the Ledvance team.â€
The press release mentioned that the Chinese consortium, consisting of strategic investor IDG, China Lighting Corporation MLS and financial investors, acquired Osram's general lighting business with a purchase price of more than 400 million euros. In accordance with the terms of the negotiations between the two parties, in addition to the sale of assets of more than 400 million euros, OSRAM will additionally obtain trademark licensing fees.
Osram believes that the combination of a consortium of IDG and Mulinsen and Ledvance can complement each other in terms of expanding regional market share and product mix in the future, and of course the financial support of the consortium.
Through the transaction, both parties will benefit from the establishment of a broader product distribution network, as well as procurement synergies, which will lay the foundation for future performance growth. Considering that the transaction is subject to certain closing conditions, it will also be approved by the relevant departmental regulatory authorities. OSRAM expects the transaction to be in the course of FY2017.
Osram said that we have found a new owner for the general lighting business. Among the Chinese consortiums, IDG will be a long-term strategic investor with extensive experience in China and investment experience in operations and industrial technology. Mulinsen is a leading LED company from the Chinese market.
Benefiting from Ledvance's decades of LED technology accumulation and market resources, Mulinsen will be able to expand its LED business in the global market. At the same time, Ledvance will also be able to significantly expand its influence in the Chinese market and achieve greater growth.
At the same time, in accordance with the agreement reached, Ledvance will continue to use the two brands of OSRAM and Sylvania at the product level. We have reached a clear allocation of intellectual property rights, which means that Ledvance and the Chinese consortium formed by Mulinsen can continue to promote product innovation and global market development.
“The transaction continues to guarantee that OSRAM is a high-tech representative of the global lighting industry,†said Olaf Berlien, CEO of OSRAM Licht AG. “We found the best new owner of Ledvance. In this Chinese consortium, Mulinsen is A fast-growing LED lighting company with unique expertise and a strong position in the Chinese market."
Through this transaction, Ledvance will explore the global market together with Mulinsen. Ledvance and Mulinsen's products will target different target users and different target markets, including emerging markets and developed markets.
“We look forward to working together. The wealth of experience of Ledvance’s management team and employees is a key factor in the future success of Ledvance and Mulinsen’s future cooperation,†said Sun Qinghuan, Chairman of Mulinsen.
“With strong financial support, we are committed to sustainable development and further strengthen the complementary market between the two parties. The goal of positioning is to become the global LED lighting market leader.†IDG partner Antony Yu added.
“The partnership will support Ledvance's development strategy and will benefit Ledvance and our customers. At the same time, we will gain a more efficient supply chain cost advantage while continuing to adhere to our quality standards. In addition, this will also strengthen We have sales and competitive advantages in Asia, especially in China,†said Jeds Munk Hansen, CEO of Ledvance.
According to the plan, the management team of Jes Munk Hansen and Ledvance will remain in office after the transaction is completed.
According to the negotiations between the two parties, the focus of this transaction is to further promote business growth. There is only a limited overlap in the organizational structure of some personnel between the two parties, so there will be no additional layoffs.
In accordance with the agreements and principles reached between the two parties, the terms of the transaction will guarantee that Osram and its headquarters staff will remain in Germany in the future. As a result, the labor relations of existing employees will be retained until the end of 2018 and their rights will be protected.
“This transaction is good news for Ledvance employees,†said Michael Knuth, spokesperson for OSRAM Licht AG. “Ledvance's global headquarters will remain in Germany. During the negotiations, the Chinese consortium showed great respect for the Ledvance team.â€
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