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National Security Grounds Against The Chinese Takeover Lumileds? Philips Expressed Confidence That Completion Of The Transaction

Apr 06, 2017

 evening of Oct. 26, according to Reuters, the Dutch Philips Group warned that it will Lumileds Lighting division with $ 3.3 billion sale to a consortium of Chinese-funded program It may be blocked,LED stadium lights because the US authorities to oppose the deal on national security grounds. backpfrontp As the world's leading lighting manufacturers, Lumileds announced in March this year, 80% interest in the sector sold Go Scale Capital, and Go Scale Capital is a venture capital company Jinsha River (GSR Ventures) led the formation of an investment fund, the latter is seeking to acquire assets overseas science and technology on the market. LED stadium lighting The transaction is part of Royal Philips, a two-step plan, which aims to exit the lighting business, the business focus on medical scanners and other medical equipment business as well as coffee machines and electric shavers and other consumers lifestyle products. According to industry sources. backpbackpfrontp and Royal Philips said the company is preparing the remaining lighting business IPO, the IPO market, and plans to release these two operations are still carried out in accordance with established track. high power led flood light but the original plan was to disrupt established, Philips said Monday that the deal was the US Committee on Foreign Investment (CFIUS) unexpected opposition, the latter of Lumileds in San Jose, California, a subsidiary has custody. backpfrontp It is understood that the US foreign investment committee (CFIUS) is led by the US Treasury inter-departmental review of the federal government agencies, including the US Department of Justice, Homeland Security, Ministry of Commerce, State, Defense, Energy, nine government departments, The committee reserves the right to foreign companies who control the United States to review the transaction. At the same time, Lumileds sales and profit comes from its automotive lighting business, but the company also developed a light emitting diode San Jose 1000W LED flood light, and has a lighting patent portfolio. backpfrontp Lumileds business in the US market contains manufacturing and R \u0026 D facilities, foreign investment in the United States is unclear what types of questions to the Commission worried that the Commission based on US national security considerations related to the review of international mergers and acquisitions, and involving Chinese acquirers US technology industry M \u0026 A transactions usually face more scrutiny. RGB led flood light The industry source said. backpfrontp It is reported that US foreign investment committee is a consortium of Chinese investors plans to buy chip maker Integrated Silicon Solution transactions conducted a prolonged investigation. Earlier this year, Tsinghua Unisplendour had tried to price $ 23 billion acquisition of Micron Technology, Inc. (Micron Technology), but the deal eventually failed to reach, according to sources familiar with the matter, the talks broke down in part because the two sides are expected The transaction is difficult to obtain approval from the US regulatory authorities. backpfrontp CFIUS objections totally took us by surprise, after all, we only produce LED high bay light uses a simple, but we Royal Philips Group will also strive to quell the fears of the Commission, and remain confident that the successful completion of the transaction is final. Philips CEO Frans van Houten (Frans van Houten), said in an interview with foreign media. backpfrontp and, van Houten said, despite the more challenging economic conditions (especially in the Chinese market), but Royal Philips still being enhanced operational performance, which they also maintain sufficient confidence. backpfrontp data show that Royal Philips' third quarter results exceeded analysts had expected this quarter, the company's net profit was 324 million euros (about 357 million US dollars), LED tunnel light compared with a year earlier net loss of 103 million euros ( US $ 114 million). Revenue of 5.8 billion euros (US $ 6.4 billion), with 5.2 billion euros over the same period last year (US $ 5.7 billion) compared with an increase of 12%. Not included in the restructuring charges and other special items, LED arnea lights profit before interest and tax (EBIT) reached 570 million euros in the third quarter (US $ 630 million), compared with a year earlier to 474 million euros (US $ 524 million US dollars). backp