General Electric (GE) since last November has been seeking companies that might be interested in buying its lighting business. In March, it was rumored Chinese lighting companies MLS Co. and Foshan Electrical and Lighting Co. were seeking financial supports for bidding GE’s assets.
LEDinside learnt from a source that GE is going to submit a tender to sell its assets— its general lighting unit and Current, powered by GE—as a part of its restructuring. Those assets is worth around USD 600-800 million, financial institutions estimate. The final price will settle based on the term of GE’s trademark and its market coverage.
Given that GE’s lighting business only contributes to a small proportion of the company’s overall revenue, the American electric conglomerate decided to divest these “non-core” assets some time ago. However, the plan did not proceed as fast as the market expected in one part because the estimated…
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