Partners enter into a put and call option for JV Valeo Sylvania
Valeo SA, Paris, and OSRAM GmbH, Munich, entered into a put and call option agreement according to which Valeo can acquire 100 percent of their joint operations (actual 50/50) in North America in early 2014. In parallel they agreed to reinforce their global cooperation in automotive lighting business.
Valeo and Osram have entered into a put and call option agreement according to which, if exercised by Osram or Valeo, Valeo would in the first quarter of calendar year 2014 acquire the entire shares of Osram in Valeo Sylvania, the companies’ joint 50/50 operations in North America. Valeo and Osram have also agreed to reinforce their cooperation in the automotive lighting business with a global strategic supply agreement. The closing of the transaction will be subject to approval by the competent antitrust authorities.
ABOUT OSRAM
OSRAM of Munich, Germany is one of the two leading light manufacturers in the world. The company's portfolio covers the entire value chain from components – including lamps, opto semiconductors like light-emitting diodes (LED) – to electronic control gears as well as complete luminaires, light management systems and lighting solutions. OSRAM has around 39,000 employees worldwide and generated revenue of 5.4 billion Euros in fiscal year 2012 (ended September 30, 2012). More than 70 percent of its revenue comes from energy-efficient products. The company's business activities have been focusing on light – and hence on quality of life – for over 100 years. Additional information can be found in the internet at www.osram-group.com
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