According to a person familiar with the matter, a consortium of private equity firms KKR and CVC is about to enter into an agreement with Royal Philips to acquire the Philips lighting device business. A source who declined to be named said that KKR and CVC have already proposed to subscribe for 80 shares of the Philips lighting device business. The entire business is valued at about 2.5 billion euros, and Philips will retain the remaining 20 shares. Sources continue to say that Philips may announce deals with KKR and CVC as soon as next week, but competitors may still raise bid prices before the final results are announced. BainCapital, once a strong competitor in the intended buyer, said the source said it was no longer involved in the competition. As for Crystall Optoelectronics, which was rumored to be interested in acquiring Philips' lighting equipment business last week, sources said that it offered a price 15 higher than KKR and CVC, and Philips may be more willing to cooperate with KKR and CVC. Last week, Crystal Energy denied the acquisition, saying that we did not make an acquisition. At the same time, domestic news shows that Hong Kong enterprises Shunfeng Clean Energy announced that it will acquire 51 shares of Jingneng Optoelectronics. It seems that Jingneng Optoelectronics' acquisition of Philips Lighting Devices business is not practical.
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