Photovoltaic denies acquisition of Philips Business

March 15, according to Reuters, Philips group price of 2.5 billion euros (about 16.6 billion yuan) of the Lumileds components business and automotive lighting Business (hereinafter referred to as the business) of the sale of a stunning turnaround. China led Enterprise Crystal Energy optoelectronic (Jiangxi) Co., Ltd. (hereinafter referred to as Crystal Energy photoelectric) and venture capital of the Jinsha Venture and Singapore's sovereign wealth fund Temasek cooperation proposed a separate offer proposal. The daily economic news reporter noted that, in the bid, the private equity firm CVC Capital and KKR Capital of the consortium, Bain Capital is also among them.

Last September, Philips announced a strategic focus and planned to set up two independent companies to focus on health technology and lighting solutions. For this reason, Philips is looking to sell the merged Lumileds components business and automotive lighting business, is expected to complete the first half of 2015 transactions. However, for the above report, Wang, chief executive of Crystal Energy, said, "I have seen the report, and it is now possible to ascertain that we have not made a purchase." "But whether the offer is true, Wang said," is inconvenient to disclose. ”

It is understood that a consortium of CVC and KKR has offered a high price in Philips's business bid, although rival Bain Capital may still raise the price. Philips's consulting firm Morgan Stanley will enter into exclusive negotiations with one of the bidders early next week.

Senior Engineer LED industry research director Zhang HONGPEO that the crystal can be relatively small, this is a control transfer problem, Price is the most important factor. The crystal energy photoelectric may be the role of a technical expert. There is no comparability with the strengths of CVC, KKR and Bain Capital. In addition, they are three-party joint investment, multiple investment will make management more difficult, this is Philips will consider a factor.

Zhejiang and Hui Lighting Technology Co., Ltd. Deputy general manager Ding Jianhua said, "The LED industry's core technology master in the hands of foreign giants, if the crystal can be acquired Philips's business, the Chinese enterprises to break the patent barriers of foreign giants, change the industry's patent layout has a great role." ”