U.S. government concerned about Philips' Lumileds $3.3-billion dealStaff writer ▼ | October 26, 2015
Philips said the sale of its $3.3-billion Lumileds business to Go Scale Capital was uncertain, due to U.S. government concerns.
Selling Go Scale Capital want to buy from Philips
"Philips and Go Scale Capital will continue to engage with CFIUS and will take all reasonable steps to address its concerns, but given these, the closing of the transaction is uncertain," Philips said.
Lumileds comprises Philips' automotive lighting business and its LED components business. GSR Ventures, Oak Investment Partners, Asia Pacific Resource Development, and Nanchang Industrial Group all participate in Go Scale. ■