DGAP-Adhoc: OSRAM Licht AG: OSRAM sells its general lighting lamps business to Chinese consortium for more than EUR400 million and closes strategic supply agreement for LED chips

Released : 07/26/2016 17:31 


OSRAM Licht AG  / Key word(s): Strategic Company Decision/Disposal

26.07.2016 17:31

Disclosure of an inside information according to Article 17 MAR,
transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


  


Munich, 26/07/2016

The Supervisory Board of OSRAM Licht AG (Osram) today approved the sale of
the general lighting lamps business ("Ledvance"). The buyer of the business
is a Chinese consortium consisting of the strategic investor IDG Capital
Partners (IDG), the Chinese lighting company MLS Co., Ltd. (MLS) and the
financial investor Yiwu State-Owned Assets Operation Center (Yiwu). The
purchase price amounts to more than EUR400 million. The transaction is
subject to certain closing conditions and regulatory approval by the
relevant authorities. The transaction is expected to close in the course of
fiscal year 2017 and will presumably result in a high double-digit to low
triple-digit million euro pre-tax book loss. Financing of the transaction
is fully secured. 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 from the new plant in Kulim, Malaysia, once
production has started.



  


Information and Explanation of the Issuer to this News:

Contact:

Boris Tramm
Head of Investor Relations
OSRAM Licht AG
Investor Relations
Marcel-Breuer-Straße 6
80807 Munich, Deutschland
Tel. +49 89 6213-4686
mailto:b.tramm@osram.com

www.osram.com

26.07.2016 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de


  


Language:     English
Company:      OSRAM Licht AG
              Marcel-Breuer-Straße 6
              80807 München
              Germany
Phone:        +49 89 6213-0
Fax:          +49 89 6213-3629
E-mail:       ir@osram.com
Internet:     www.osram-licht.ag
ISIN:         DE000LED4000
WKN:          LED400
Indices:      MDAX
Listed:       Regulated Market in Frankfurt (Prime Standard), Munich;
              Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg,
              Hanover, Stuttgart, Tradegate Exchange; Terminbörse EUREX

End of Announcement                             DGAP News-Service