Siemens could sell Osram lightbulb maker for €7bn

first_img whatsapp Show Comments ▼ Siemens could sell Osram lightbulb maker for €7bn KCS-content Siemens is set to announce plans to float lightbulb unit Osram, the last of its consumer business.Osram, the only business not bearing the Siemens brand, is estimated to be worth between €5bn (£4.4bn) and €7bn. It is the world’s second largest lighting company after Philips and ahead of General Electric.Analysts expect that Siemens, which makes everything from fast trains to hearing aids, will sell a minority stake in Osram as a first stage and will likely use the proceeds to expand the business before exiting it altogether in the medium term.Osram’s profit last year rose sixfold to €569m as a swift recovery by German car makers helped boost sales 16 per cent to €4.7bn. The move is part of Siemens’ radical revamp since 2007, when it sold its automotive business VDO to tyre maker Continental in 2007 in an €11.4bn deal. Siemens also sold its minority stake in tank maker Krauss-Maffei Wegman in December. Future potential disposals could include stakes in turbine engine maker Voith Hydro. Monday 28 March 2011 7:47 pm whatsapp Share Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe Wrap Tags: NULLlast_img read more