Osram Licht to Sell Light Bulb and LED-Lamp Business

Germany’s  Osram Licht AG has agreed to sell its light-bulb and LED-lamp business to Chinese lighting company  MLS Co.  and two co-investors for more than €400 million ($439.8 million). The move helps the former unit of engineering giant  Siemens AG  to focus on the automotive industry and lighting solutions for buildings and cities. Some bankers speculated it could also make Osram a more attractive takeover target.