Chinese Investor GO Scale Said to Bid for Philips Lighting - Energy Watch News


Chinese Investor GO Scale Said to Bid for Philips Lighting

The private equity firm, which previously tried to buy Philips’s Lumileds business, is bidding for the Dutch company’s other lighting division. The unit could fetch about $5.4 billion. The Committee on Foreign Investment in the U.S., the regulator that blocked the GO Scale-led consortium’s $2.8 billion offer for Lumileds, has been vocal about stopping acquisitions that would put technology important to the American government under Chinese ownership. Still, the lighting unit, which makes end products such as street lights, may be considered less politically sensitive than Lumileds. The new bid puts GO Scale in competition with U.K. investment company Melrose Industries Plc, as well as buyout firms Blackstone Group LP, Onex Corp. and Apollo Global Management LLC. http://www.bloomberg.com/news/articles/2016-02-29/chinese-investor-go-scale-said-to-bid-for-philips-lighting

Tagged with: , , ,
Posted in Industry News

Leave a Reply

Your email address will not be published. Required fields are marked *

*

Featured Product


 

Featured Job

Regional Lighting Sales Manager – Hubbell Lighting

Los Angeles, CA

Featured Job Listing