KKR and CVC may acquire 80 shares in Philips lighting devices business-ALLTOP-img

KKR and CVC may acquire 80 shares in Philips lighting devices business

by:ALLTOP      2020-03-09
According to informed sources, a consortium of private equity firms KKR and CVC is about to reach an agreement with Philips to acquire Philips lighting devices. A source who did not want to be named said that KKR and CVC have proposed to subscribe for 80 shares of Philips Lighting device business, and the valuation of the whole business is about 2. 5 billion euros, philips will retain the remaining 20 shares. Sources continue to say that Philips may soon announce its deal with KKR and CVC next week, but competitors may still raise the bidding price before the final result is announced. BainCapital was a strong competitor among prospective buyers, but the source said it was no longer competing. As for the Crystal energy optoelectronics that was rumored to be interested in acquiring the Philips lighting device business last week, the source said: it (Crystal energy photoelectric) The offer is 15 higher than KKR and CVC, and Philips may be more willing to cooperate with KKR and CVC. Last week, Jingneng had denied the acquisition, saying that we did not make an acquisition. At the same time, domestic news shows that Hong Kong enterprise Shunfeng Clean Energy announced that it will acquire 51 shares of Jingneng Optoelectronics. It seems that the news of Jingneng Optoelectronics's acquisition of Philips Lighting device business is not practical.
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