Signify: a bright day with acquisition in US

(CercleFinance.com) - The Signify (former Philips Lighting) share is up 2.
5% in Amsterdam this morning, after the group announced a definitive agreement with the American group Eaton to acquire Cooper Lighting Solutions, for 1.4 billion dollars in cash.

Providing professional lighting solutions, lighting controls and connected lighting, this business generated sales of 1.7 billion dollars in 2018, with EBITDA of 187 million dollars.

Subject to regulatory approvals and other customary conditions, the transaction is expected to be finalised in the first quarter of 2020. It will enable Signify to strengthen its position in North America and the share of professional lighting in its revenues.


Copyright (c) 2019 CercleFinance.com. All rights reserved.