Osram Initiates Sales Process for Lamps Business

German lighting manufacturer Osram has initiated the sales process of its lamps business, which it intends to spin-off operations from the group by next April and legally by July, a Reuters report cited a company spokesman saying recently.

The business revenue reached EUR 2 billion ($2.2 billion), but has dropped over the past year following fierce competition from Chinese manufacturers that has eroded the German company’s profits. The business has attracted interest from Chinese buyers including MLS, and Shanghai Feilo Acoustics, due to its strong brands and distribution channels in Europe and the U.S.

Last Friday MLS announced its board plans initiate a bid for Osram’s lamps business.

Shanghai Felio Acoustics announced in July that it made a non-binding offer.

In September 2015, Osram sold its stake in Foshan Electric and Lighting (Felco) for EUR 350 million.

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