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Stern Stewart Capital has acquired Osram’s Siteco luminaires business with the intention to continue the current transformation approach. The separation from Osram gives Siteco entrepreneurial freedom and with the sale of the luminaires business, Osram also continues its transformation to a high-tech company.

Stern Stewart will be undertaking an entrepreneurial role and offers Siteco and its employees’ good prospects. In this way, the strategic and operational continuity for Siteco can be ensured, while Osram continues to sharpen its profile in the photonics domain.

Both parties have agreed not to disclose any financial details of the transaction. In the previous fiscal year, the luminaire specialist based in Traunreut, Germany, employed about 900 people and generated revenue of more than 200 million euros.

The new ownership offers excellent prospects for the employees. In the course of the transaction, Osram and the new owner will ensure that the company has solid financial resources at its disposal. For this, Stern Stewart Capital has also given an assurance, that it will not take any dividends from Siteco in the next years.