Osram sells and talks to investor

The offer sees to "conclude an investor agreement and to make a public takeover offer to the shareholders of the company for an amount of 35 Euro per share. The responsible decision bodies will discuss and decide on this offer shortly", a short company announcement reads. No further information was given. On a side note; Osram has sold the Siteco luminaires business to Stern Stewart Capital. Separation from Osram gives Siteco entrepreneurial freedom, a press release explains. The cost situation would also be improved with the elimination of previous Group structures. “Stern Stewart will be undertaking an entrepreneurial role and offers Siteco and its employees good prospects”, said Olaf Berlien, CEO of OSRAM Licht AG. “In this way, we can ensure strategic and operational continuity for Siteco, while Osram continues to sharpen its profile as a photonics champion.” From Stern Stewart Capital’s point of view, Siteco stands for innovative lighting technology engineered and made in Germany. “We are looking forward to providing entrepreneurial support to the highly motivated Siteco team and management", said Markus Pertl, Managing Partner of Stern Stewart Capital. 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 EUR 200 million.