The Chinese investment agency GO Scale Capital (an independent fund jointly launched by Jinshajiang Venture Capital and Oak Investment) last month’s takeover bid for the lighting component division of Royal Philips NV was rejected by the US government, but now Investors are hoping that their second acquisition will have better luck.
According to sources who are not required to be named, the private equity firm is initiating an acquisition of another lighting division of Royal Philips. A source familiar with the situation said that the sale of this department may bring about 5 billion euros (about 5.4 billion US dollars) in revenue to Royal Philips.
According to sources, Royal Philips may not be willing to risk negotiations with Chinese bidders in case the sale of the lighting department is once again blocked. Earlier, the US Foreign Investment Committee (Committeeon Foreign Investment) vetoed GOScaleCapital's $2.8 billion takeover offer for Lumileds, the lighting component division of Royal Philips, and has made it clear that it will obstruct technology that may be important to the US government. M&A transactions in China.
But sources also added that, unlike LumiLEDs, another lighting division responsible for producing streetlights as end products may be considered less politically sensitive. In contrast, the Lumileds division's main business is to provide LED (light-emitting diode) components and luminaires for the automotive industry. According to one source, Royal Philips' management is seeking potential buyers for this sector, and the next round of bidding is likely to begin in April.
Royal Philips spokesperson Steve Klink declined to comment on the news, and a GOScale representative also declined to comment.
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