OSRAM plans to sell its lighting business, named after Landdevans, to a Chinese consortium led by Mulinsen Co., Ltd. for more than 400 million euros. OSRAM hopes to complete the acquisition negotiations in the current fiscal year ending September.
Demedia said that OSRAM has made progress in selling its lighting department to China. The German Ministry of Economic Affairs issued the so-called proof of no doubt.
According to a report on the German "Der Spiegel" website on January 30, a spokesman for the Ministry of Economic Affairs said that the audit did not find any evidence that the acquisition would pose a threat to German public order or security.
According to the report, OSRAM plans to sell its lighting business named after Landvouss to a Chinese consortium headed by Mulinsen Co., Ltd. for more than 400 million euros. OSRAM hopes to complete the acquisition negotiations in the current fiscal year ending September.
Through this transaction, OSRAM will not only be separated from its largest business unit (which achieved approximately 2 billion euros in turnover and 125,000 employees last year), but will also be out of the end customer business. In the future, OSRAM will focus on LED technology and lucrative automotive professional lighting, rather than the traditional bulb and halogen business.
According to the report, after the German government revoked the approval of Chinese investors to acquire the German professional machinery manufacturer Ai Siqiang, the approval of the Landdev acquisition was no longer certain. The US authorities also prevented Ai Siqiang from being acquired by Chinese companies on the grounds of security.
If a foreign legal entity jeopardizes US national security by acquiring a company with a branch in the United States, the US Foreign Investment Commission in the United States has the right to ban the transaction.
Therefore, the planned OSRAM acquisition must also be approved by US regulators. The OSRAM union hopes to prevent the company from being acquired by the Chinese, and said that OSRAM has important military research projects in the United States.
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