Lumileds won the support of Apollo and PHILPS, officially became an independent 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 dedicated to developing lighting solutions for the automotive, mobile, networking and lighting industries, and constantly improving the lighting conditions of our customers.

It is reported that Apollo and PHILPS announced in December 2016 agreed to carry out the transaction. Under the deal, PHILPS sold its 80.1%Lumileds stake to some of the funds managed by Apollo and retained the remaining 19.9% of the shares. 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 develops, manufactures and markets breakthrough LED technology and advanced lighting products, with more than 9000 employees and operates in more than 32 countries.

Apollo, a senior partner at RobertSeminara, says Lumileds is a pioneer in the lighting industry and has a history of over 100 years of innovation. We look forward to working with the Lumileds team to help you look forward to a bright future together.

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