A consortium will acquire 80% stake in PHILPS lighting device business

According to Bloomberg news, according to informed sources, the consortium composed of private Holdings Company KKR and CVC is about to reach an agreement with royal PHILPS acquisition of PHILPS lighting device business.

A source who declined to be named, said KKR and CVC has been proposed to subscribe for 80% stake in PHILPS lighting devices business, the valuation of the entire business is about $2 billion 500 million, PHILPS will retain the remaining 20% shares.

The source continues to say that PHILPS is likely to announce a deal with KKR and CVC as soon as next week, but that it could still raise the price before the final results are announced. Bain Capital, who was a strong competitor in the intention of buyers, but the source said it was no longer involved in the competition.

As for the last week was interested in buying PHILPS lighting business latticepower, sources said: "it (latticepower) offer is 15% higher than that of KKR and CVC, while PHILPS may be more willing to cooperate with KKR and CVC. Last week, the crystal has been denied on the acquisition of the matter, said, we did not conduct acquisitions". At the same time, domestic news shows that Hong Kong enterprises downwind clean energy announced the acquisition of 51% stake in crystal energy, so it seems that the acquisition of PHILPS crystal photoelectric lighting business news is not practical. (compile / China LED network Flora)

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