Royal Philips is trying to re-sell the unit Lumileds, but now much cheaper
A year and a half ago it became known that the company Royal Philips has signed an agreement with a Chinese consortium, GO Scale Capital regarding the sale of 80.1% of units Lumileds, which produces led components lighting (including car). Then it was reported that the value of the deal is 2.8 billion dollars.
It turned out that the deal wasn’t meant to be. The fact that their objections advanced by the Committee on foreign investment in USA (Committee on Foreign Investment in the United States; CFIUS), in fact, blocking the deal.
Because of this, Philips had to significantly reduce the cost of sale and seek a new buyer. He was found in the US, so now CFIUS is unlikely to find reasons to ban sales. The purchaser is a private investment company Apollo Global Management. The new transaction amount — $ 1.5 billion. It must be completed in the first half of 2017.