Chinese consortium completes Ledvance acquisition
March 6, 2017 - Following receipt of all necessary approvals from the relevant authorities, the sale of Ledvance by Osram to a Chinese investment consortium—which we told you about last year—has been completed.
The consortium comprises investor IDG Capital, LED packaging manufacturer MLS Co. Ltd. (MLS) and Yiwu State-Owned Assets Operation Center (Yiwu).
“What drives us as the majority owner within the investment consortium is to leverage our global investment expertise and resources to help Chinese companies—and long-established companies from developed markets—make the most out of their joint market potentials,” said Antony Yu of IDG Capital.
Through MLS, Ledvance gains access to cost-efficient LED components for its products, says the consortium, and will be able to expand its market presence in China; in turn, MLS benefits from Ledvance’s industry experience and international market presence.
Based on an agreement with Osram, Ledvance will continue to use the Osram brand name for its products (Sylvania in Canada).
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