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Buyers interested in Osram’s digital business: Wirtschaftswoche
Posted on Thursday, 12 September 2019 11:34
A number of potential suitors have already expressed an interest in an acquisition of Osram Licht’s digital division, according to Wirtschaftswoche. The business weekly cited Alexander Everke, chief executive of AMS, which is in the process of trying to buy the Munich-based lamp manufacturer, as saying the firm has already compiled a list of prospective bidders. A battle for Osram Licht is currently underway between AMS and a consortium of Bain and Carlyle. The latter, which is bidding via the Luz (C-BC) Bidco vehicle, has offered to pay EUR 35.00 per item of stock in the business, thereby valuing a transaction at EUR 4.00 billion. AMS, through Opal BidCo, has submitted an approach of EUR 38.50 per share at an overall deal value of EUR 4.33 billion. The Austrian suitor has said that if it is successful in acquiring the business, it would look to divest the digital unit. While Everke did not give many concrete details in his comments to Wirtschaftswoche, he did specify that no Chinese firms are among the prospective buyers and no talks have taken place as yet. Osram Licht describes itself as a leading global high-tech company with a history dating back more than 110 years. The Frankfurt and Munich-listed firm’s main focus is semiconductor-based technology, which is used in the likes of virtual reality autonomous driving, smartphones and intelligent lighting products. It employs some 26,200 people worldwide. Both bids for Osram Licht are the two largest deals targeting an electric lighting equipment manufacturer to have been announced worldwide since the start of 2019, according to Zephyr, the M&A database published by Bureau van Dijk. No other such transaction has surpassed the USD 1.00 billion-barrier in the year to date; third place was worth USD 787.43 million and took the form of an acquisition of Blue Light (HK) Trading, Zhuhai Yaohui Technology and Huizhou NVC Lighting Technology by Brilliant Lights Investment. © Zephus Ltd