Royal Philips, GO Scale Capital nix proposed lighting deal
January 25, 2016
GO Scale Capital, an investment fund sponsored by GSR Ventures and Oak Investment Partners, and Royal Philips have announced the termination of an agreement reached last March for the fund to acquire an 80.1% stake in Royal Philips’ LED and automotive lighting business, Lumileds. The agreement had given the business an enterprise value of roughly $3.3 billion. The two parties said they were unable to obtain approval for the deal from the Committee on Foreign Investment in the United States.