The German lighting manufacturer Osram Licht has sold its luminaire daughter Siteco. That company is being taken over by investor Stern Stewart Capital. Financial details were not disclosed.
Osram wants to transform into a high-tech company and making luminaires no longer fits in with that. Stern Stewart Capital is the investment arm of a consultancy firm of the same name. Osram has been assisting this for several years and knows Siteco well.
The luminaire company has an annual turnover of more than 200 million euros. Around 900 people work there.
Nicholas de Krammer, а self-taught economic analytic with heave mathematical background. Math behind the economics (and economics behind math) is the strong side of the author. Contact him at [email protected]