FRANKFURT: German lighting group Osram said the lamps business it is carving out will be led by Jes Munk Hansen - who has been at the helm of the business for a year after running Osram's Americas business - and will be named "Ledvance".
The lamps business, with 2 billion euros ($2.2 billion) in annual sales, is to be operationally separated from the rest of Osram by April 1 and legally separated by July 1.
Osram has asked for tentative bids for the business, which is valued at roughly 500 million euros and has attracted interest from Chinese buyers who are interested in the brand and European and U.S. distribution channels.
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