Chuan Mu Linsen and Foshan Lighting bid for GE lighting business transaction value of up to 1 billion US dollars
Reuters, Hong Kong/Frankfurt – March 5 — According to multiple sources familiar with the matter, at least two Chinese firms are in early discussions about potentially bidding for a portion of General Electric’s (GE) lighting assets, which are valued at around $1 billion.
One of the companies reportedly involved is Mulinsen (002745.SZ), a well-known Guangdong-based lighting manufacturer, while the other is Foshan Lighting (000541.SZ). Both firms are currently in talks with financial institutions to secure funding for a potential bid, according to a source.
Meanwhile, GE has begun reaching out to interested parties and has announced that it will provide a detailed information memo in the coming weeks ahead of the first round of bids. The company has not yet commented on the situation.
Mulinsen has not publicly responded to the reports, while Foshan Lighting did not immediately return requests for comment. Due to the sensitivity of the matter, the sources chose to remain anonymous.
This development comes as part of GE’s broader strategy to divest non-core businesses. Earlier this month, the company finalized a deal to sell its European lighting operations to a firm led by former executive Joerg Bauer. While the transaction value was not disclosed, it marked the first major step in GE’s exit from the global lighting sector.
The remaining U.S.-based lighting business is now being targeted for sale, as part of GE’s ongoing restructuring plan. The company aims to shed approximately $20 billion in assets, focusing instead on three core areas: power, aviation, and healthcare.
In addition to the lighting division, GE has also been exploring the sale of its industrial gas engine business, which could fetch up to $2 billion.
Financial performance in the lighting segment has declined significantly in recent years. In 2017, the unit reported revenue of nearly $2 billion and a profit of $93 million, down sharply from $4.8 billion in revenue and $199 million in profit in 2016.
As GE continues to streamline its operations, the upcoming bidding process for its U.S. lighting assets is expected to attract significant interest from both domestic and international investors.
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