13 December 2016

Philips to sell majority interest in Lumileds to Apollo Global Management

De Brauw assists Philips in the divestment of an 80.1% interest in Lumileds, a leading supplier of LED components and automotive lighting, to funds managed by affiliates of US private-equity firm Apollo Global Management.

Lumileds has an estimated enterprise value of USD 2 billion, including debt and debt-like items. The sale of Lumileds, which has been operating as a standalone company within Philips since early 2015, is in line with Philips’ strategic focus on healthcare. Philips will retain the remaining 19.9% interest in Lumileds.

This is the second time this year that De Brauw has advised Philips on a large transaction, following Philips Lighting’s IPO in May 2016. 

Arne Grimme (lead partner), Dieter Wolff, Yi Duan, Heleen Koggink and Michelle Massart