Five giant OSRAM spin off business who can win?

International Lighting giant OSRAM (OSRAM) spin off sale of lighting assets, attracting domestic LED listed companies competing bid.

According to insiders, the domestic LED companies, audio and Linsen, Elec-Tech Tongfang and other 5 companies are busy to negotiate the acquisition of OSRAM in Europe. In this regard, the reporter interviewed several companies.

In December 18th, the company secretaries Dunfee responded, cautiously, "we signed a confidentiality agreement, all the announcement".

Unlike Elec-Tech is very secretive, Linsen frank. Insiders pointed out that in the MLS bid for OSRAM business assets, is expected in the second quarter of 2016 will be the results before and after. Mu Linsen, general manager of the executive had previously responded by saying, "we hope (so), as soon as possible landing, so that we have plenty of time to do the next step of the work of the. "

Tokunho Jundashi is winning?

Global LED industry is experiencing a difficult transition, including OSRAM, including multinational giants, have accelerated downsizing, stripping the traditional lighting business to adapt to the future development of the industry. OSRAM's spin off mainly includes CLB (traditional lighting and ballast), LLS (LED lights and systems) two parts.

Early in August this year, the planning a major asset and equity acquisition, is working with the national industry fund to buy a foreign lighting enterprise assets, has entered a substantive stage of negotiations.

However, up to two months later, still no progress announcement, the Shenzhen Stock Exchange issued a letter of inquiry. In November 11th, the acquisition of this disclosure Elec-Tech foreign assets, "during the suspension period, sell the company and the investment bank and asset, to the relevant matters by email or telephone conference and other means to continue negotiations, and basic to follow-up schedule of business negotiation".

Elec-Tech said that during the suspension, the company signed an agreement with a well-known international investment bank, and signed a confidentiality agreement with the party at the same time, the sale of assets, both parties in the sale of Hongkong and the country where the site meeting held.

Elec-Tech claimed that the company is expected to be completed before the end of December, non binding offer letter, and to the sale of assets formally submitted, "because the asset sale also is an overseas listed company, as of now, in addition to the confidentiality agreement, the two sides have not yet signed any written agreement on the sale of assets, the two sides can reach an agreement there are still uncertainties".

According to media quoted insiders as saying that overseas lighting companies bid for OSRAM Elec-Tech assets may spin off assets such as general lighting.

Public information, OSRAM is a German listed company, according to the China Investment Bank estimates that the majority of its stripped CLB and LLS two of about 720 million euros (equivalent to about RMB 4 billion 920 million yuan). However, analysts have said, including debt, including the value of OSRAM lamps up to 1 billion euros (equivalent to about RMB 6 billion 893 million yuan).

While Elec-Tech said, the acquisition is expected to amount between 4 billion -60 billion yuan, similar to OSRAM divested business analysts and the estimated value of the bank.

In this regard, December 18th Elec-Tech dongmi Dunfee responded to reporters, hesitated, quite tight lipped, appears to be very cautious, "this in our announcement are...... This is... We did not say that OSRAM, there is no special progress, if there is substantial progress will be promptly announced. "

Relates to the confidentiality agreement, Dunfee's response is also reasonable, he stressed to reporters, "we are not in any case said (the acquisition) and OSRAM, this is all speculation in overseas assets, (it) will have different effects, we do not want to give the trouble".

It is the beginning of the small home appliance sales overseas, so in terms of overseas business development and sales do well, two years ago, the company in Germany and the United States have done a brand, are now overseas layout. Dunfee said.

Elec-Tech has rich experience of overseas markets in recent years, overseas revenue continues to expand the scale of its annual report, 2013, 2014 and the first half of 2015, foreign sales were 1 billion 250 million yuan, 2 billion 392 million yuan and 1 billion 285 million yuan respectively, accounting for the main income of the current 39.93%, 57.57% and 62.58%.

Is expected in the two quarter of next year announced: Rawlinson

Unlike Elec-Tech secretive, Linsen, Feile audio and other enterprises is relatively high, have claimed that bid for OSRAM lighting business assets, making this "battle" gunpowder.

Insiders refer to bid for OSRAM, Linsen business assets, expected in the second quarter of 2016 and the results will be. November 17th, Mu Linsen, general manager of the implementation of the response to reporters, said Lin Jiliang, we hope (so), can be landed as soon as possible, so that we have plenty of time to do the next step. "

M.L.S. is the second largest LED manufacturing giant, in February this year, the success of the IPO, as of December 18th closing, the market capitalization of 17 billion 600 million yuan. The main products are LampLED, SMDLED, M.L.S. Display and LED applications, the SMDLED business accounted for more than half of revenue.

The first half of 2015, the report shows that SMDLED business revenue reached 1 billion 125 million yuan, accounting for the total revenue of $56.24%. In addition, LampLED business amounted to 496 million yuan, accounting for a total revenue of $24.77%.