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Osram sells Siteco luminaires business to Stern Stewart Capital

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Christian Fernsby ▼ | June 25, 2019
Osram
Acquisition   Both parties have agreed not to disclose any financial details

Osram has found a new owner for the Siteco luminaires business in Stern Stewart Capital.

Stern Stewart Capital intends to continue the current transformation approach.

Separation from Osram gives Siteco entrepreneurial freedom.

The cost situation is also improved with the elimination of previous Group structures.

With the sale of the luminaires business, Osram is continuing its transformation to a high-tech company.

Both parties have agreed not to disclose any financial details of the transaction.

In the previous fiscal year, the luminaire specialist based in Traunreut, Germany, employed about 900 people and generated revenue of more than 200 million euros.

Thanks to its clear realignment, the company was in the black on an operational basis for the first time in years.

The new ownership offers excellent prospects for the employees.

In the course of the transaction, Osram and the new owner will ensure that the company has solid financial resources at its disposal.

For this, Stern Stewart Capital has also given an assurance, that it will not take any dividends from Siteco in the next years.


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