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Net proceeds to be used for further funding of worldwide pension liabilities.
September 10, 2015
By: DAVID SAVASTANO
Editor, Ink World Magazine
Osram has agreed to sell its 13.5% stake in the Chinese company Foshan Electrical and Lighting Co., Ltd. (Felco) to a subsidiary of Guangdong Rising Assets Management Co., Ltd. With this move, Osram will dispose of a non-strategic investment. The agreed selling price is more than €350 million, which corresponds to a premium of more than 30% over the current share price. Osram expects to have a pre-tax gain of approximately €300 million from the transaction, which is expected to be booked in ...
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