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...
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