Shanghai Feilo Acoustics Ends HSBC Consultant Contract in Bid for Osram’s Lighting Business

Shanghai Feilo Acoustics and The Hongkong Shanghai Banking Corporation (HSBC) recently signed a termination agreement that ended the international bank’s role as the sole financial consultant for the Chinese LED luminaire company’s plan to acquire Osram’s lighting business.

The contract was cut short just five months after Shanghai Felio Acoustics announced its partnership with HSBC.

At a board meeting on July 21, 2015, Shanghai Feilo Acoustics announced that its board of directors approved a non-binding offer to acquire German lighting manufacturer Osram’s Classic Lamps and Ballast (CLB) and LED Lighting Solutions (LLS) businesses, and appointed company managers to prepare for the following business transaction. The company sent the non- binding offer letter to Osram on July 21, 2015.

The LED company went on to announce it hired HSBC as the sole financial consultant for the acquisition plan on Sep. 10, 2015.

Shanghai Felio Acoustics will continue to provide information about developments of its acquisition of Osram’s lamp business.

(Translator: Emma Chang, Editor, LEDinsidehttp:// Editor: Judy Lin, Chief Editor, LEDinside)

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