It is reported that Apollo and Philips announced in December 2016 agreed to trade. Under the deal, Philips sold its 80.1% Lumileds stake to some of the funds managed by Apollo and retained the remaining 19.9% stake. Apollo is the world's leading alternative investment manager with a total assets of approximately $ 19.7 billion (approximately RMB133.25 billion) covering private equity, credit and real estate funds, with investments in the company's rich knowledge and resources Big core industry.
"We are fortunate to have support from Apollo and Philips as Lumileds opens up new chapters and is a leader in the field of high-performance LEDs and a leader in advanced lighting solutions," said Mark Adams, executive director of Lumileds.
Lumileds develops, manufactures and markets breakthrough LED technology and advanced lighting products with more than 9,000 employees and operates in more than 32 countries.
Apollo senior partner RobertSeminara said, Lumileds for the lighting industry pioneer, with 100 years of innovation history. We look forward to working with the Lumileds team to provide a handful of good future for everyone to look forward to.