Chinese giants eye bids for German tech LED maker

Chinese giants eye bids for German tech LED maker

 

Chinese organisations are seriously considering bids for Osram Licht, the German manufacturer of lightning materials and semi-conductors, in the sign of China’s elevating interest in buying European products. Go scale, a Chinese private equity institution and San’an Optoelectronics, which runs China’s largest production outlet for bright led toghether held talks with Osram in the past couple of weeks. Osram shares shoot from 12.3 percent to 60.93 euros($68) after The German business magazine Wirtschaftswoche reported that the Chinese company San’an Opto wanted to buy the manufacturer and could be willing to pay an amount of 70 euros per share. However, Osram declined to comment on this fact. According to the Financial Times, the Chinese buyers were previously attracted by Osram. To be particular, on last July, the company agreed  to sell its lightbulb unit to a joint venture unit led by Chinese LED specialist MLS for more than 400 euros.

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