Philips Lighting is sold overseas and merged into a trend

Judging from the performance forecast issued by various listed companies in 2015, the cases of achieving 1+1>2 through the merger and acquisition profit are everywhere, and even the profits obtained by the enterprises through the mergers and acquisitions reach more than 80% of the total profits of the company. Therefore, Zhang Xiaofei, chairman of Gaogong LED, predicted that the amount of M&A in 2016 will exceed 100 billion yuan, and M&A will also become international.

This is not the beginning of the new year, the news of the sale of the Philips Group's lighting business has been reported in the industry, causing many companies to compete for bids. Among them are Blackstone Group LP (BX), Onex Co. (OCX.T) and Chinese investor GO Scale Capital. The initial estimate of 5 billion euros has opened the 2016 M&A curtain.

According to informed sources, Blackstone Group and Onex jointly bid for Royal Philips' lighting business unit. The two companies teamed up to bid for a large share of the equity in the case of successful bidding, and set up two directors on how to improve the performance of the department. They will also borrow to finance part of the transaction. The two teams are also the most optimistic about the industry.

The lighting business unit that Philips was bidding for last year had sales of 7.4 billion euros. The division's business includes Philips' traditional lighting business and the manufacture of energy-efficient light-emitting diode (or LED) luminaires. As LEDs become more popular, the demand for traditional luminaires is declining. As a result, its traditional lighting has declined both in terms of sales and profit levels.

The author noticed that there are many domestic investors in the list of companies participating in the bidding. When GO Scale Capital acquired the Lumileds division last month, it was blocked by the US Foreign Investment Committee on the grounds of national security. This is also the second time that GO Scale Capital has participated in the bidding for the Philips Lighting business unit.

“For China, there is a lack of a global lighting brand. Philips is recognized as the world’s number one brand of lighting, and its brand influence is obvious to all. If GO Scale Capital can successfully acquire the Philips lighting business, it can not only get Philips’ advanced lighting technology. It is also possible to take the world lighting brand as its own, and it can be said to be more than one item." An industry source said.

However, the US government believes that it is important to leave Philips' lighting technology in the United States. This is also an important reason why the US Foreign Investment Committee has prevented GO Scale Capital from acquiring the Lumileds division. Therefore, if the sale of the lighting business, Philips once again choose to trade with GO Scale Capital, may face the risk of trading failure. Therefore, GO Scale Capital's winning geometry is unpredictable.

However, although GO Scale Capital's acquisition of Philips Lumileds has failed, domestic investors' focus on M&A for lighting will shift overseas. "This year, China's LED lighting industry and M&A will mainly target overseas lighting brands, mainly through the acquisition of international lighting brands and overseas local brands, supplemented by or integrated into local channels." GGII senior analyst Li Shengfa believes.

General specifications

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Base speed: OFF/HEAT/FOUNTAIN   Adjustable plastic feet: Yes

Bowl capacity: 2 pounds                  Fountain formed time: within 1 minute

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Technical specifications

Power: 35W                        Frequency: 50/60Hz

Voltage: 220-240V               Cord length: 0.75m


Design specifications

Material body: PP                          Surface finishing: injected color

Material tower: Plastic                   Material bowl: Stainlesss steel

Dishwasher attachments: Yes




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