April 3, 2018 – Ledvance GmbH—the company behind the Sylvania brand—is now 100% owned by the Chinese LED lighting company MLS.
SEE ALSO Chinese consortium completes Ledvance acquisition (March 2017).
MLS has taken over full ownership of Ledvance by means of a share deal with the strategic investor IDG Capital and the financial investor Yiwu. As part of the deal, IDG Capital and Yiwu will become shareholders of MLS via a joint investment.
“With MLS as our partner and key supplier of LED components, we will continue to vehemently drive forward the transition of Ledvance into becoming the leading global LED lighting company,” asserted Jacob C. Tarn (photo), Ledvance CEO.
SEE ALSO Jacob Tarn appointed CEO of Ledvance (January 2018).
The change in ownership has no impact on Ledvance’s legal form as a German GmbH. It’s global HQ will remain in Garching near Munich.
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