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US may block Philips’ $3bn Lumileds sale

Philips’ $2.9bn deal to offload its lighting components business was thrown into doubt on Monday after US regulators expressed “unforeseen concerns” over the sale to a consortium of Chinese private equity investors.

The Amsterdam-based group said the sale of an 80 per cent stake in Lumileds, which makes car components and LEDs, was now “uncertain” after the Committee on Foreign Investment in the US highlighted worries over the deal.

CFIUS, which vets sensitive acquisitions of US assets by foreign companies for national security concerns, typically focuses on attempts by Chinese companies looking to buy into high-tech industries.

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