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Germany halts Osram unit sale to Chinese buyer: WirtschaftsWoche

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The German government has turned down a Chinese request for approval of a planned takeover of Osram's Ledvance unit, German WirtschaftsWoche reported on Thursday, citing financial sources.

[FRANKFURT] The German government has turned down a Chinese request for approval of a planned takeover of Osram's Ledvance unit, German WirtschaftsWoche reported on Thursday, citing financial sources.

Earlier this year, Osram had agreed to sell its general lighting lamps business Ledvance to a consortium of Chinese buyers, including lighting company MLS for more than 400 million euros (S$606.35 million).

The German economy ministry declined to comment on the report.

The report comes after the German government put on hold the sale of semiconductor manufacturing equipment maker Aixtron to China's Fujian Grand Chip Investment Fund, citing security concerns.

REUTERS

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