Wood wood just LP? It is the main body of the bid for OSRAM

July 26th morning, OSRAM issued a press release said that the joint strategic investment group IDG capital, China lighting units in Yiwu City, Mu Linsen Dachang and the financing of state-owned assets operation center, a total of 400 million euros to buy OSRAM LEDvance lighting business.

On the same day M.L.S. announced that the company and the harmonious mingsum other partners signed a new partnership agreement. Limited partner intends to increase the proportion of the amount of capital subscribed to the core of harmony, where the company intends to increase the amount of subscribed capital increased from 178 million 570 thousand yuan to $1 billion 250 million, accounting for the proportion of the total investment in the proportion of the total capital of the Ming Ming unchanged.

The company is also the announcement said Linsen, harmonious and limited partner mingsum (Limited Partner, LP), do not participate in the partnership's daily management and investment decision. That is to say the main bid for OSRAM LEDvance is the core of harmonious Ming, Ming core partner just Linsen harmony.

Bid for OSRAM LEDvance, M.L.S. is only LP

According to available information, Linsen November 6, 2015 evening announcement shows, said MLS to enhance the competitiveness of enterprises, optimize the integration of industry resources, the company board of directors agreed to bid for the OSRAMLichtAG (OSRAM) part of the lighting business assets, and to authorize the chairman Sun Qinghuan on behalf of the company to negotiate acquisitions and signed the relevant documents.

In May 16th this year, Mu Linsen announced, in order to give full play to the advantage of all parties, to achieve win-win situation, to discuss the decision by the Mu Linsen administration, the number of harmonious Ho and IDG capital's signed "book" intention of limited partnership partnership agreement, intends to use its own funds and the number of harmonic and ho or its associated companies and other investors the establishment of a limited partnership. The number of harmonious ho or its affiliates as a general partner (GeneralPartner, GP), M.L.S. and other investors as limited partners (LimitedPartner, LP).

According to the announcement, said the size of the limited partnership subscribed capital contribution is tentatively set at 500 million yuan. The main investment direction of the partnership is to participate in the capital increase, equity transfer and other ways to obtain the LED industry and the acquisition of high-quality enterprises LED quality assets.

Then in May 17th, the meeting decided to form bidding with partners Linsen consortium, involved in the acquisition of OSRAM lighting business assets bid. After July 16th, Sen said that the limited partners as the core of harmonious Ming, with its own capital subscribed for harmonious mingsum invested 178 million 570 thousand yuan, accounting for the total subscribed capital of 35.713%, and the main protagonist of the announcement of the acquisition of OSRAM LEDvance is the core of harmonious Ming. Is this acquisition will Linsen original 178 million 570 thousand yuan increased to 1 billion 250 million yuan.

Whether it is part of the acquisition of OSRAM Linsen lighting business, or the final strategy the consortium to acquire the final, the biggest beneficiaries or rawlinson. Because Mu Linsen combination of the acquisition of equity in state-owned assets with Yiwu as the highest, a controlling stake and the right to speak; secondly, Mu Linsen is also the only one in combination with OSRAM lighting business linked to the enterprise; finally, as Mu Linsen LP, the merger would not use financial statement, can speed up the progress of the acquisition. So anyway, Rawlinson are the biggest beneficiaries.

Is LP, is the biggest gainer

As the core of large shareholder harmonious Ming Mu Linsen, after OSRAM LEDvance will be harmonious mingsum into the bag, Mu Linsen will be provided by OSRAM LED chip with patent protection chip, the pedal will make the ship tonnage increase again.

While in the MLS not listed before, has been dubbed the "price butcher" name, now holding company's acquisition of OSRAM LEDvance, not only fill in the vacancy of high-end lighting brand will also Linsen brand Linsen, raised one level, which will accelerate the global layout process rawlinson.

Compared to other companies in the consortium, access to only the equity of OSRAM LEDvance and future earnings, Mu Linsen is not only the equity and more additional value. (author: LEDinside skavy) more LED related information, please click on the LED network or pay attention to WeChat public account (cnledw2013).