On May 27th, the Philips Lighting M&A case, which has received much attention from the market, has made substantial progress. The acquisition of GO Scale Capital (an independent fund jointly initiated by Jinshajiang Venture Capital and Oak Investment) announced on the 27th that the company will cooperate with Bank of China to finance the acquisition of 80.1% of the shares of Philips' LED and automotive lighting division, which will continue Operating under the name Lumileds. The debt financing amounted to 1.93 billion US dollars, including term loans in the US dollar and the euro, and revolving credit loans.
Wu Shenjun, co-founder and managing director of Jinshajiang Venture Capital, said: “We have discussed financing solutions with a number of international financial institutions and found that Bank of China can provide the most suitable terms for the company. Its efficient and stable support will also benefit. The company's flexible operation and cost savings will increase the value of shareholders and allow the company to focus on investment and growth. In this transaction, Bank of China has demonstrated unparalleled execution speed and high international market-oriented business capabilities, and we look forward to expanding Cooperation with the Bank of China."
It is understood that Lumileds majority equity acquisition project is expected to be completed in the third quarter of 2015 after completion of delivery conditions including approval by relevant regulatory authorities. Earlier on March 31, a fund formed by a joint venture between Jinshajiang Venture Capital and Oak Investment Partners; United Asia Pacific Resources Development Investment Co., Ltd. and Nanchang Industrial Holding Group announced the successful acquisition of 80.1% of Lumileds, a subsidiary of Royal Philips, Philips, Philips The remaining 19.9% ​​of the shares will be retained.
According to the data, Lumileds is the world's leading manufacturer of lighting components, offering products for the general lighting, automotive lighting and mobile electronics markets. The company has more than 8,300 employees in more than 30 countries around the world. In 2014, Lumileds had sales of approximately $2 billion and EBITA reached double digits.
In fact, GO Scale Capital is a new independent investment fund jointly launched by Jinshajiang Venture Capital and Oak Investment Partners, with offices in Beijing, Hong Kong and Silicon Valley. The investment team has many years of experience in cross-border operations management and has a successful joint investment experience in cutting-edge, mature technology. The fund is committed to industrializing and scaling up its global investment in companies that invest in China.
Wu Shenjun, co-founder and managing director of Jinshajiang Venture Capital, said: “We have discussed financing solutions with a number of international financial institutions and found that Bank of China can provide the most suitable terms for the company. Its efficient and stable support will also benefit. The company's flexible operation and cost savings will increase the value of shareholders and allow the company to focus on investment and growth. In this transaction, Bank of China has demonstrated unparalleled execution speed and high international market-oriented business capabilities, and we look forward to expanding Cooperation with the Bank of China."
It is understood that Lumileds majority equity acquisition project is expected to be completed in the third quarter of 2015 after completion of delivery conditions including approval by relevant regulatory authorities. Earlier on March 31, a fund formed by a joint venture between Jinshajiang Venture Capital and Oak Investment Partners; United Asia Pacific Resources Development Investment Co., Ltd. and Nanchang Industrial Holding Group announced the successful acquisition of 80.1% of Lumileds, a subsidiary of Royal Philips, Philips, Philips The remaining 19.9% ​​of the shares will be retained.
According to the data, Lumileds is the world's leading manufacturer of lighting components, offering products for the general lighting, automotive lighting and mobile electronics markets. The company has more than 8,300 employees in more than 30 countries around the world. In 2014, Lumileds had sales of approximately $2 billion and EBITA reached double digits.
In fact, GO Scale Capital is a new independent investment fund jointly launched by Jinshajiang Venture Capital and Oak Investment Partners, with offices in Beijing, Hong Kong and Silicon Valley. The investment team has many years of experience in cross-border operations management and has a successful joint investment experience in cutting-edge, mature technology. The fund is committed to industrializing and scaling up its global investment in companies that invest in China.
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