Lumileds Apollo and PHILPS fit support, officially became a separate company

According to Business Wire reported, Lumileds announced that Apollo Global Management, LLC (together with its subsidiaries, collectively referred to as "Apollo") subsidiary fund has been with royal PHILPS (Royal Philips) completed a previously announced transaction, LumiLEDs became an independent operating company. Lumileds is committed to action, automotive, networking and industrial development of lighting lighting solutions, and constantly improve the illumination condition of customers.

It is reported that Apollo and PHILPS announced on December 2016 agreed to trade. Under the deal, PHILPS will hold its stake to 80.1%Lumileds Apollo some of the fund management, and keep the remaining 19.9% stake. Apollo is the world's leading offbeat investment management companies, the total assets of the management of approximately $197 billion (equivalent to approximately RMB 13425 yuan), including private equity, credit and real estate fund, the 9 core industries investment areas throughout the company has a wealth of knowledge and resources.

Lumileds CEO Mark Adams said, with Lumileds open a new chapter, development into the field of high performance LED innovators and advanced lighting solutions leader in the field, we are very fortunate to have the support of Apollo and PHILPS.

Lumileds development, manufacturing and sales breakthrough LED technology and advanced lighting products, with more than 9000 employees, its business in over 32 countries.

Apollo senior partner RobertSeminara Lumileds said, as a pioneer of the lighting industry, with 100 years of history of innovation. We look forward to working with the Lumileds team to provide a helping hand for the common bright future.

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