Carlyle-Backed Lighting Co. Pays $60M For Malaysian Peer

Law360, New York (September 21, 2012, 5:03 PM EDT) -- The Carlyle Group LP-backed General Lighting Co. JSC, a Saudi Arabian firm, bought out its Malaysian peer for 183 million ringgits ($60 million), giving it control of the largest lighting fixture manufacturer in Malaysia, the seller announced Thursday.

The all-cash deal transfers Davex Malaysia Sdn. Bhd. to GLC (Asia) Holdings Ltd., a General Lighting subsidiary, according to documents Davex's parent, Malaysian investment firm MWE Holdings Bhd., filed with the Bursa Malaysia.

“The [MWE] board believes that the proposed disposal is timely and provides the opportunity for...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.