July 27, 2021

Philips lighting business is vested in private equity and is expected to be valued at US$6 billion.

According to reports, Royal Philips NV's lighting division has attracted the interest of some of the world's largest private equity firms, which, according to people familiar with the matter, have a valuation of about 5.5 billion euros ($6 billion).

A source who declined to be named said that CVC Capital Partners (CVC Capital Partners, hereinafter referred to as CVC), KKR & Co., Bain Capital and Onex Corp. were also initially bidding for the list of acquisitions in the sector. in. The source also said that JPMorgan Chase & Co and Wall Street's most famous investment bank, Goldman Sachs Group Inc., advised Philips about the deal. In addition, the person said that the final result of this standard has not been finalized.

Consumer demand for monitoring health through devices and mobile apps is growing, and Philips CEO Marriott wants to take advantage of this trend. The Amsterdam-based company is moving its lighting division from the Healthcare and Quality Life division. Separated in the middle. Philips has previously said that the company is also making initial public offerings for the lighting sector.

The above sources said that if US regulators blocked Philips' Lumileds from selling $2.8 billion to Goscale Capital led by China's GSR Ventures, some of the bidders were also interested in acquiring the LumiLEDs division of lighting components. KKR, CVC and Bain had failed to bid for Lumileds in March.

Spokesmen for Philips, Goldman Sachs Group and JPMorgan Chase declined to comment. In addition, CVC, KKR, Onex and Bain's spokesperson did not immediately respond to requests for comment.

Founded in 1891, Philips sells lamps for more than a century, generating approximately one-third of Philips' total revenue and second only to the Healthcare Division.

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