Osram sells luminaires unit to Stern Stewart Capital

Reuters

Published Jun 25, 2019 08:03

Osram sells luminaires unit to Stern Stewart Capital

FRANKFURT (Reuters) - German lighting group Osram on Tuesday said it had sold its luminaires unit Siteco to the investment arm of strategic consultancy Stern Stewart & Co for an undisclosed sum.

Siteco, which turned a profit and made sales of more than 200 million euros (£179 million) in the last financial year, will not pay dividends to Stern Stewart Capital in the next years, Osram said.