Indal acqusition by Philips approved by EC

Nov. 25, 2011
Date Announced: 25 Nov 2011 Sebastian Arias, CEO of Spain-based Indal Group, wrote an open letter to interested parties concerning the proposed acquisition of his company by Philips. The proposed aquisition was announced in June 2011 - see Philips to acquire LED outdoor-lighting specialist Indal.+++ Press release - Indal +++From: Sebastian Arias, CEO, IndalPhilips/Indal integration: European Commission Competition approvalDear customer,I would like to inform you that the European Commission competition authorities have approved the acquisition of Indal by Philips, on Wednesday November 23rd. We expect to close the deal and start the integration in January 2012.We reinforce that until the deal is closed everything remains the same. Our commitment to you remain and the deal will not cause any disruption of existing agreements or contracts. On the contrary, we look forward to strengthen our relationship with you in the future.We believe this integration will bring more value to our relationship. Together with Philips we can offer you an even richer portfolio of high‐value professional lighting solutions that enhance the livability and safety of our environment.According to our customer‐focused culture, we will keep you informed well in advance on any changes arising after the closing of the deal and our integration into Philips organization.If you have further questions please do not hesitate to contact us directly.

Indal Group