According to reports, Osram’s chief financial officer Ingo Bank denied the Chinese businessman Go Scale Capital’s acquisition rumor in an interview with Bloomberg on Tuesday. On September 12, 2016, the media reported that OSRAM's largest shareholder, Siemens, intended to sell its stake in OSRAM to Chinese investor Go Scale Capital, but by the end of the year, Germany's most powerful trade union, the Metal Industry Union (IG Metall) Opposing the acquisition of Chinese companies, and even forcing OSRAM to maintain jobs in German lighting factories. Ingo Bank, Chief Financial Officer of OSRAM In an interview, Bank said that the company did not complete anything at the time and the company was satisfied with the existing shareholder structure. In the interview, Osram's CFO pointed out that financing from current shareholders is sufficient to meet most of Osram's R&D investment activities, and in the future the company will consider ways to enhance its lighting and control, automotive lighting, electronics and software through acquisitions. Bank did not specify the name of the company that OSRAM plans to acquire. With the divestiture of the low-margin general lighting business LEDVANCE, OSRAM expects to complete the transition from lighting company to high-tech company by 2020. After the reorganization, OSRAM will focus on three high-tech lighting businesses, all of which are industry leaders, such as LED semiconductor business Osram Opto, special lighting, automotive lighting and so on. Bank said that OSRAM plans to achieve an average revenue growth of 7% to 9% by 2020, when annual revenue is expected to reach 5 billion euros ($5.27 billion) and earnings per share (EPS) will double.
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